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Despite President Obamas efforts Monday to use an executive order, and Tuesdays Tumblr Q & A to shine a spotlight on the Senates consideration of Senator Warrens Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.
The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at todays lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans filibuster of the measure and proceed to debate.
Its a real shame Republicans are standing in the way of this very important, timely legislation, Senate Majority Leader Harry Reid told reporters after the vote.
40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.
On Wednesday, the Senate voted 56-38 against a measure that would have helped millions of Americans with expensive student loans.
The measure, proposed by Sen. Elizabeth Warren (D-Mass.), would have allowed people to refinance their student loan debt at lower rates. President Barack Obama got behind the measure earlier this week.
Other than Senate Majority Leader Harry Reid (D-Nev.), who voted against the measure on procedural grounds in order to preserve Democrats’ ability to reconsider it at a later date, only Republicans voted against the proposal, which failed to get the 60 votes needed to avoid a filibuster. Only three Republican senators -- Susan Collins of Maine, Bob Corker of Tennessee and Lisa Murkowski of Alaska -- voted in favor of Warren’s proposal.
Below, a list of the Twitter handles of all of the senators who voted no on the measure, excluding Reid. Find their information and let them know how you feel. For a full roll call, click here.
Senate Republicans Filibuster Elizabeth Warren?s Bill to Refinance Student Loans | Occupy Democrats
Despite President Obamas efforts Monday to use an executive order, and Tuesdays Tumblr Q & A to shine a spotlight on the Senates consideration of Senator Warrens Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.
The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at todays lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans filibuster of the measure and proceed to debate.
Its a real shame Republicans are standing in the way of this very important, timely legislation, Senate Majority Leader Harry Reid told reporters after the vote.
40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.
If it can help economic recovery or benefit any American, the Republicans are against it.
Senate Republicans Filibuster Elizabeth Warren?s Bill to Refinance Student Loans | Occupy Democrats
Despite President Obamas efforts Monday to use an executive order, and Tuesdays Tumblr Q & A to shine a spotlight on the Senates consideration of Senator Warrens Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.
The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at todays lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans filibuster of the measure and proceed to debate.
Its a real shame Republicans are standing in the way of this very important, timely legislation, Senate Majority Leader Harry Reid told reporters after the vote.
40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.
If it can help economic recovery or benefit any American, the Republicans are against it.
Well you libs take up a collection and pay them off for them
All the people before them has paid of their loans
now all a sudden it needs to be given special treatment
buy them votes buy them votes
Interesting that we do not hear granny Warren or any of her democrat cohorts howling about "price gouging" at colleges.
Interesting that we do not hear granny Warren or any of her democrat cohorts howling about "price gouging" at colleges.
I've been hearing a lot about price gouging. Maybe you should stop getting your "news" from faux, beck, limbaugh, Alex Jones and other liars.
Naw, you wouldn't want to be bogged down with FACTS.
What do R's get out of this?
Let the loans get refied at a lower rate....why stop that?
Interesting that we do not hear granny Warren or any of her democrat cohorts howling about "price gouging" at colleges.
I've been hearing a lot about price gouging. Maybe you should stop getting your "news" from faux, beck, limbaugh, Alex Jones and other liars.
Naw, you wouldn't want to be bogged down with FACTS.
No, we sure wouldn't, dumb ass.
Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says
What do Fox, Beck, Limbaugh, Alex Jones and the rest have to do with anything?Interesting that we do not hear granny Warren or any of her democrat cohorts howling about "price gouging" at colleges.
I've been hearing a lot about price gouging. Maybe you should stop getting your "news" from faux, beck, limbaugh, Alex Jones and other liars.
Naw, you wouldn't want to be bogged down with FACTS.
I've been hearing a lot about price gouging. Maybe you should stop getting your "news" from faux, beck, limbaugh, Alex Jones and other liars.
Naw, you wouldn't want to be bogged down with FACTS.
No, we sure wouldn't, dumb ass.
Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says
Thanks for proving my point.
If you still don't get it, check the source of your link.
Hint: its not faux, beck, limbaugh, jones, etc.
