Gillibrand pushes new student loan legislation

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 5/14 9:32 pm

ALBANY, N.Y. – New York Senator Kristen Gillibrand is pushing new legislation that would allow college graduates to refinance their student loans.

It’s estimated that across New York, college graduates have an average of $27,000 in student loan debt. Gillibrand wants graduates to be able to refinance their loans similar to a mortgage or business loan.

She said it would save graduates about $10,000.

“They’re in their twenties and thirties. Instead of paying interest back to the federal government, they want to buy a house, start a family, hope to start a business,” she said. “Those dollars would be better invested in the economy than just sending it back to Washington.”

The Congressional Budget Office said the federal government currently makes 36 cents in profit on every student loan dollar it puts out.

 

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

The views expressed here do not necessarily represent those of FOX23 News.

No comments yet!
Current Conditions
49°
High: 59° | Low: 48°
Light Rain

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.