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Calculate Your
Refinancing Savings
Refinancing Student
Loans 101
Its Our Interest: The
Need to Reduce
Student Loan Interest
Rates
FOR MORE
INFORMATION
For more information
and to get
involved, check out
itsourinterest.org
THE SOLUTION
Earlier this year, Senator Elizabeth Warren (D-MA) and Congressman Joe
Courtney (D-CT-2) introduced the Bank on Students Emergency Loan
Refinancing Act (S. 793/H.R. 1434). This bill would allow student loan
borrowersincluding those with graduate and parent loansto refinance
their loans to a lower interest rate. For those with private loans, refinancing
student loans into the federal loan system would allow borrowers access
to programs like income-based repayment plans and public service loan
forgiveness.
1 Generation Progress
END NOTES
1. Richard Fry, A Record One-in Five
Households Now Owe Student Loan Debt:
Burden Greatest on Young, Poor (Pew
Research Center, 2012, available at http://
www.pewsocialtrends.org/2012/09/26/arecord-one-in-five-households-now-owestudent-loan-debt/
2. Meta Brown, Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der
Klaauw, The Student Loan Landscape, Liberty Street Economics, February 18, 2015,
available at http://libertystreeteconomics.
newyorkfed.org/2015/02/the_student_
loan-landscape.html#.VT6SXiTD--p
2 Generation Progress