Senate Democrats push student loan bill

By: Associated Press
By: Associated Press

WASHINGTON Democrats are keeping up their election-year drumbeat on student loan rates, scheduling a Senate vote to debate legislation allowing students to refinance their debt at lower rates.

Republicans say it's a political gimmick that would raise taxes without addressing the real causes of rising student loan rates.

Without GOP backing, the bill is unlikely to get the support needed to advance. But the debate allows Democrats to showcase steps aimed at helping the middle class this election year.

The move by Senate Democrats comes after two days during which President Barack Obama made student loans a focus and announced executive action to limit how much certain student borrowers would have to pay.

Supporters say the bill by Sen. Elizabeth Warren could save millions of borrowers $2,000 each.

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