Gillibrand bill would allow for easier refinancing of student loans
By MATTHEW L. McKIBBEN
In an attempt to reduce student debt burden, U.S. Sen. Kirsten Gillibrand is renewing her push for the Federal Student Loan Refinancing Act which would allow college graduates with student loans to refinance their current federal loans at a lower rate.
Gillibrand, D-Brunswick, was scheduled to meet with graduates from the Capital Region and the New York Public Interest Research Group in the Schenectady County Public Library on Tuesday to advocate for the legislation, but cancelled due to the weather.
According to Gillibrand, almost 10 percent of Capital Region graduates are delinquent in student loan repayments and 15.5 percent of New York City graduates were more than three months behind in paying their student loans at the end of 2012.
U.S. Senate bill 1066, if passed, would help the New York graduates who Gillibrand says owe more $60 billion in federal student loans and face an average debt of $27,000 per graduate.
http://www.legislativegazette.com/Articles-Top-Stories-c-2014-02-18-86838.113122-Gillibrand-bill-would-allow-for-easier-refinancing-of-student-loans.html