Meredith Muller 0

Allow for the refinance of student loans previously consolidated at high interest rates under the US Department of Education's Direct Loan Program

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It's no secret that student loan debt is a big problem in this country. A lot has been done to help current students and recent graduates, but little attention has been paid to those who previously consolidated their student loans at high interest rates under the U.S. Department of Education's Direct Loan Program. These borrowers are saddled with interests rates as high as 8% on loans consolidated under the Direct Loan Program and are not permitted to refinance at today's historically low rates. At this rate, many borrowers find themselves paying about the same amount for their student loan payment as they do for their home mortgage, and will be saddled by those payments for 30 years. The Direct Loan Program was originally intended to help student borrowers. Please support a plan that would foster that intent by allowing these borrowers to refinance.

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