Obama To Endorse Elizabeth Warren’s Student Loan Proposal

By Sam Stein President Barack Obama on Monday will throw his support behind a new proposal to dramatically revamp the federal student loan program, according to the White House. A bill proposed by Sen. Elizabeth Warren (D-Mass.) would allow borrowers to potentially save thousands of dollars by giving them a chance to effectively pay off their high-rate existing loans in exchange for new loans that carry substantially lower interest rates. “This proposed measure is weak and short-sighted. Interest is not the problem with students loans. The high cost, time commitment and poor return on the investment are what need to be addressed.” Read the full article here: http://www.huffingtonpost.com/2014/06/06/obama-elizabeth-warren-st_n_5461988.html

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