In light of historically low interest rates, debtors have been able to refinance their loans and reduce the amount of interest paid over the life of the loan, making the loan more affordable and reducing defaults. This doesn't apply to student loans though, because Congress maintains the high rates.
We aren't asking for loans to be forgiven, but reduce the interest burden! The government shouldn't be profiting off students. This ignores the benefit of cutting out the private sector, removing the profit margin. Per The Wall Street Journal:
"According to CBO, the government will make $106 billion in loans to college students...plus $39 billion when the loans are paid back with interest."
Interest rates should be set to ensure program costs are covered. Help increase college affordability!