Joe Manchin: “I think what we are talking about also is that they are saying if it consolidates, it strings the payment out for the…”

“I think what we are talking about also is that they are saying if it consolidates, it strings the payment out for the maximum of 30 years, which means they are paying a lot more back in interest; correct? That is the argument I have heard from different people. So that means, why would you have an automatic consolidation? With that being said, I understand that with the government-run loan right now, there are no penalties for me. If I string it out to get the lowest payment for 30 years, and then I said I want to have 10 years, I can do that; correct? That is able to be done. So I can reduce that amount of time and amount of interest with my affordability to pay more.”