Brown Announces Support for New Legislation to Reduce Student Loan Burden, Allow Students to Refinance Existing Loans at Today's Rates

Statement

U.S. Sen. Sherrod Brown (D-OH) today announced his cosponsorship of the Bank on Students Emergency Loan Refinancing Act, legislation that would allow those with outstanding student loan debt to refinance at the lower interest rates currently offered to new borrowers.

"Higher education is a pathway to economic opportunity but the burden of excessive student loan debt can prevent college graduates from saving, starting businesses, or buying homes," Brown said. "Despite the low interest rate environment, many graduates are trapped in high interest rate loans. Ensuring that students and graduates can refinance their loans for more affordable monthly payments will allow them to provide for their families and invest in their communities."

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