Eric Swalwell: “Now, we are talking about student loan debt as well as student loan interest rates, two separate issues, but both…”

“Now, we are talking about student loan debt as well as student loan interest rates, two separate issues, but both affecting essentially the same generation. We saw just this week our colleague, Joe Courtney, within the past week introduced his bill. I want to see if the gentleman has a position on this. It is the Bank on Students Emergency Loan Refinancing Act. What it would do is it would allow eligible student loan borrowers to refinance their private and Federal loans. As the gentleman knows, if you have an auto loan or if you have a home loan and if you have a business loan, you can often, if qualified, refinance those loans as interest rates change and the markets change. Right now, you can't do that with student loans. How do you think this would change the debt load that young people are carrying today if they could take that student loan to the marketplace and find competitive refinancing rates.”