Bill to Refinance Student Loans

You might have heard that Senator Warren is introducing a bill to allow for student loan refinancing. This is very important in easing the debt burden of millions. The New York Times has a good write-up of it a long with a couple other things that are in the works to help with student loans –

It’s obviously going to have a hard time in the Senate and, if it makes it, in the House. So it’s important to write to your Senators to urge support. Here’s the letter that I wrote for Senators Boxer and Feinstein, 


Dear Senator ,


My name is Alexa Villaume and I am writing to urge your support of the bill sponsored by Senator Warren to refinance student loans at lower interest rates.


I graduated in 2013 and like many people my age I had to take on debt to get complete my undergraduate education. I am lucky in that I am able to make timely payments on my student loans that cover the principle in addition to the interest. Not everyone is so lucky and it takes a significant amount of my monthly take home pay to cover my payments.


My experience is the experience of millions. We went to college to make a better life for ourselves and many of us our held back because of debt burdens. We can’t buy cars and certainly not houses. We can’t take risks in our professional lives. I trust you understand that this is not a sustainable way for our country to proceed.


I know that many Senators and Representatives would say that we cannot increase taxes on these so-called “Job Creators”. But what about the young people who want to be job creators but can’t take the risk? What about the young people who want to buy houses and start families but can’t? Easing the debt burden would help millions who have graduated in recent years and that in turn will help make a more equal and productive country.


Best regards,

Alexa Villaume


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