Two senators introduced the Student Loan Elimination Act that would cut interest rates to 0% for all 43 million student loan holders in the U.S. Future borrowers would pay interest on their loans but the amounts would be capped at no higher than 4%.
READ MORE: Student loan debt application: Beta website launched for SAVE income-driven repayment plan
“That’s the difference between making mortgage or car payments, affording medical care, or saving for a stronger retirement,” Courtney added.
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