One thing that would benefit our economy and the middle class would be to allow those who have taken student loans to finance their education to consolidate and refinance their loans in order to take advantage of lower interest rates when they become available. This would save families hundreds of dollars each month and allow consumer spending to rise.
Unlike the current consolidation program; this proposal would allow everyone with student loans to refinance and re-consolidate once every three years.
This program will give hard working Americans to get ahead without adding to the deficit. The bottom line is that education is more important these days than ever. It’s time to make sensible, fair, reforms that will allow everyone to benefit.