CT Congressman Proposes Bill To Allow People To Refinance Public Student Loans At 0% Interest Rate | New
WASHINGTON, DC (WFSB) – Connecticut lawmakers want to help students pay off their loans.
Congressman Joe Courtney introduced a bill that would allow anyone with a public student loan to refinance it at a 0% interest rate.
Representatives Jahanna Hayes and John Larson are the co-sponsors of the bill.
If that passes, students would have three years to refinance and pay no interest.
The bill would also automatically refinance any “direct loan”.
“Today’s employment figures should be a wake-up call to many trade show economic experts who, even as our recovery progresses, we still have great challenges to overcome and people still need support. “Courtney said in a press release. . “That’s why President Biden signed the US bailout into law, and that’s why the Federal Reserve extended its zero percent benchmark interest rate atmosphere until 2023. This benchmark of zero percent will give thousands of homeowners and small businesses financial leeway. and others, and it absolutely should – they need it. But the same goes for Americans working with public student loans who can’t refinance unless Congress changes the law. Student loan borrowers aren’t just young people just entering the economy – they’re mothers and fathers, small business owners, teachers and nurses, many of whom are trapped by the law with loans. inherited students with extremely high interest rates. They deserve the same opportunity to refinance their debt that so many Americans have right now, and the zero percent student loan refinance law would give them that opportunity.
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