"… The total student loan debt in America has reached $1.5 trillion, and over $875 billion of it is held by the federal government at interest rates of up to 6.84%. That percentage far exceeds the market rate for most government loans.
This legislation would allow students to refinance their student loan interest rates, lower future student loan interest rates, eliminate origination fees on student loans, delay student loan interest rate accrual for low-income and middle-class borrowers while they are pursuing their education, and allow for borrowers in medical or dental residencies to defer payments until the completion of their program." …