Landrieu Launches Student Loan Savings Calculator

Press Release

Today, U.S. Senator Mary L. Landrieu, D-La., launched a student loan savings calculator on her website that allows the 600,000 student loan borrowers in Louisiana to easily calculate an estimate of their potential savings under the Bank on Students Emergency Loan Refinancing Act that she is backing. The Senate is expected to take up the legislation this week. The bill, part of Sen. Landrieu's Passport to the Middle Class initiative, would allow responsible borrowers with private and federal undergraduate loans to refinance at 3.86%.

"Students in Louisiana and across the nation can now calculate an estimate of what they could save under this legislation. Lower rates would provide 600,000 loan borrowers and their families a fair shot to earn an affordable college education and passport to the Middle Class. This online calculator I'm launching will replace percentages with dollars and cents that add up and make a real difference in the pocketbooks of hard-working families and individuals," Sen. Landrieu said.

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