Republicans Block Student Loan Bill

Senate Republicans on Wednesday blocked legislation aimed at letting people refinance their student loans at lower rates. The 56-38 vote fell short of the 60 that would have been needed to advance to debate on the measure by Sen. Elizabeth Warren, D-Mass.

Her bill would have let millions of borrowers, some with years-old debt and interest rates topping 7 percent or more, refinance at today’s lower rates. The bill would have been paid for with the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million.

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