There have been many calls lately for forgiveness of student debt, and debate about whether this is fair to those who did not take on such debt.
I propose an option that will stimulate the economy and help overburdened graduates while being fair to all: refinance existing student loans at today's interest rates of 2.3%.
Currently, rates range from 2.3-10% for the exact same loan, depending on the year the borrower entered college.
The student loan program was designed to help people attend college, not create profits for the government. Yet, Wall Street can now borrow money from the government at almost 0%, while those who graduated 12 years ago are paying 8% or more. Every other form of debt can be refinanced when interest rates drop - student loans should be as well.