Relief could be on the way for the millions of college grads nationwide who are burdened with student loan debt.
More than a dozen members of the Senate, including Wisconsin Sen. Tammy Baldwin are supporting a new emergency loan act.
The Bank on Students Emergency Loan Refinancing Act would allow people with outstanding loan debt to refinance loans at today's lower interest rates.
Currently, people are not allowed to refinance student loans in the same way they would a mortgage or car loan.
Nationwide, about 40 million people have outstanding student loan debt.
About 30% of those student loans are in default.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.