US Senate hopeful Shenna Bellows is calling on Senator Susan Collins to support a bill that could effect student loans.
Graduating seniors in Maine have an average loan debt of nearly $30,000. The bill would allow students to refinance their loans down to lower interest rates.
“Just last fall we passed a bill to help preserve lower interest rates on student loans. I’ll take a look at this new bill that’s been introduced but we already took action just last fall due to the leadership of Sen. King,” said Sen. Susan Collins, (R)- Maine.
“We need to do more, we need to expand debt forgiveness, we need to lower the cost of higher education, we need to place checks and balances so that the private sector cannot exploit students in such a serious way, because the student loan debt has exploded and it has created a crisis,” Bellows said.
Student loan debt has surpassed the amount of credit card debt in the US.