allow student loans that are current in repayment status the ability to refinance at lower interest rates.

Students that consolidated their federal student loans prior to the downfall of the economy are paying higher interest rates than students that would consolidate today. Depending on the date of consolidation, rates range from 3.4% to 6.8%. Rates should be pro-rated for all that are repaying their loans and are in good standing. Going forward, student loan interest rates should be held constant at a low rate that promotes higher education.