May 19, 2017
Improving access to higher education isn�t a partisan issue. I�m
proud to work on a bipartisan basis to improve options and lower costs
for students and families.
This week, Senator Angus King
(I-ME) and I introduced the to simplify
the complex maze of federal student loan repayment
The current student loan repayment programs are too complicated and
too expensive. The Repay Act has two very simple goals: first, give
students straightforward options on how to repay their student loan
debt; and second, limit the excessive taxpayer-funded subsides that are
incentivizing families and students to borrow too much.
also proud to report that a law I wrote to reduce student loan
interest rates is continuing to help students save money. In 2013, when
government-set student loan interest rates were scheduled to double, I
worked with Senators Angus King (I-ME) and Joe Manchin (D-WV) to write the
Bipartisan Student Loan Certainty Act to let student borrowers take
advantage of lower marketplace interest rates.
Department that, due to our law,
federal student loan interest rate will remain near a historic low at
4.45 percent, down from a peak of 6.8 percent in 2012. To date, our
bipartisan law has saved students and families nearly $60