Sen. Franken Introduces Bill Aiming To Ease Student Loan Debt
MINNEAPOLIS (WCCO) -- A bill is working its way through Congress which could take some of the burden off those with student loan debt.
Minnesota Senator Al Franken co-authored a piece of legislation that would make it possible to refinance federal student loans for lower interest rates. The bill would apply to both graduates and current students with college debt.
"It's a barrier to economic growth," Sen. Franken explained. "A lot of people are delaying buying homes, starting a business, or starting families because of the debt they carry."
The average Minnesota graduate finishes college with around $30,000 in student loans, the fifth highest average of any state in the country.
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