U.S. Senator Proposes Student Loan Refinance Plan

May 19, 2013
Associated Press  
student loan news

U.S. Sen. Kirsten Gillibrand (D-N.Y.) announced Sunday the Federal Student Loan Refinancing Act, legislation that would lower interest rates for many student loan borrowers currently repaying their federal student loans. The refinancing bill would allow students and graduates who have an interest rate higher than 4 percent to refinance their federal loans at a lower, fixed rate of 4 percent. Gillibrand said she plans to introduce the legislation in the Senate this week.
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