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Bill Would Refinance Federal Student Loans to 0% Interest
The proposal would refinance current federal loans to 0% and set future rates at 0% to 4%, affecting nearly 43 million borrowers.
- Connecticut Congressman Joe Courtney is co-sponsoring a bill that would remove interest on existing federal student loans for more than 40 million people by refinancing them and capping rates for future borrowers.
- Rising college costs have driven debt accumulation; public college Tuition has more than tripled since the 1960s, while Connecticut residents now hold more than $19 billion in federal student loan debt.
- The bill proposes creating a new Department and Education trust fund, with future borrowers paying interest rates between 0% and 4% depending on financial need, limited to universities that do not raise Tuition by more than 2%.
- Courtney joined PIRG and the United States Student Association to announce collection of over 130,000 letters to Congress; however, the bill faces unlikely passage in a Republican-controlled Congress.
- If investments in Treasury bonds perform well, the government would direct additional revenue toward increasing Pell Grant funding and providing competitive grants for college completion and retention programs.
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32 Articles
32 Articles
CT congressman pushes to eliminate student loan interest
Rep. Joe Courtney, D-Conn., joins students impacted by the rate hike, US PIRG, Rebuild the Dream, Campus Progress and the United States Student Association, to announce the collection of over 130,000 letters to Congress to prevent student loan interest rates from doubling.(Manuel Balce Ceneta / AP)Connecticut Congressman Joe Courtney is calling for an end to interest on federal student loans.Courtney is co-sponsoring a bill that would remove int…
More and more students have had difficulty repaying their student loans in recent years.
·Helsinki, Finland
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Coverage Details
Total News Sources32
Leaning Left2Leaning Right0Center30Last UpdatedBias Distribution94% Center
Bias Distribution
- 94% of the sources are Center
94% Center
C 94%
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