Senator Elizabeth Warren’s Student Loan Reform bill was just voted down today by the Senate. This would have permitted student loan borrowers to refinance their loans at a lower interest rate. This was largely voted down in partisan voting. Republican Senators voted overwhelmingly no.
So, how do you get yourself heard? Here is a list of the Twitter handles of the Senators who voted no today: http://www.huffingtonpost.com/2014/06/11/student-loan-debt_n_5485247.html?utm_hp_ref=tw.
Please let these Senators know how you feel. No, this bill was not perfect. If it was perfect, it would have permitted borrowers with private student loans to refinance. Sadly, that’s where the tragedy lies. Folks with private loans have fewer choices, and no repayment programs for those with hardships.