4 Must-Know Facts About Obama’s New Student Loan Plan [EXCERPT]

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This week, we lost another bill aimed at reforming student loan policy, as the “Bank on Students Emergency Loan Refinancing Act” introduced by Sen. Elizabeth Warren (D-Mass.) didn’t get enough votes in the Senate to move forward.

The failure of this bill led to a lot of posturing from both sides of the aisle. But that rhetoric has yet to lead to what struggling student loan borrowers need most: actual help right now. Fortunately, relief may be on its way for some borrowers—courtesy of an executive action signed by President Obama. …

The Student Loan Relief Bill That You Should Know About

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As part of the democrats’ new “Fair Shot” agenda, Senator Elizabeth Warren (D-Mass.) reintroduced legislation last month aimed at easing the burden of student loan repayment.

This bill will reportedly come up for a vote soon, perhaps as early as this week. In advance of that, let’s talk about one of its features that could help for just about every type of borrower: the ability to refinance private and federal student loans at the current low interest rates.…

Will Reauthorizing The Higher Education Act Provide The Relief You Need?

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Late last month, Senator Tom Harkin said he wanted legislation to reauthorize the Higher Education Act (HEA) by June. That timing may not happen; however, members of Congress are currently proposing bills in anticipation of reauthorization.

When reauthorization does occur, that could mean big changes for student loan borrowers—especially if two bills I’d like to see passed get approved in some fashion.…