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NASFAA Provides Summary Of Student Loan Refinancing Bill

6 May 2014 7 views No Comment

A group of Democratic senators introduced a bill that would allow certain qualified borrowers to refinance existing federal and private student loans at today’s interest rates. Introduced by Senator Elizabeth Warren (D-MA), the Bank on Students Emergency Loan Refinancing Act would give students the opportunity to refinance their outstanding loans at the new market-based rates set for the 2013-14 award year by the Bipartisan Student Loan Certainty Act of 2013. The interest rate would be fixed for the life of the refinanced loan.

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