CBO Issues Two Estimates on Private Student Loan Debt Swap Bill
4 December 2009
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Sen. Sherrod Brown (D-OH) introduced S. 1541 last summer to establish a temporary private student loan debt swap program that would allow borrowers to refinance their private student loans into the federal loan programs. The bill would allow borrowers who have taken out private student loans any time after July 1, 1994 to refinance those loans into a Federal Direct Consolidation Loan. The Congressional Budget Office (CBO) has issued a preliminary cost estimate along with a caveated “alternative estimate” that takes into account the estimated cost of market risk.
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