Please allow borrowers to refinance their federal student loans to the current 3.4% rate. Many borrowers are stuck with the 6.8% rate, which is higher than what some private loans offer. Last year, this was widely covered in the media, as President Obama urged congress to act so that students with the 3.4% rate wouldn't have to pay 6.8%. President Obama mentioned how much money this could save students. If he sees the benefits of keeping rates from doubling, why can't those with the high rates refinance?
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
