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Sen. Warren's First Bill To Lower Student Debt Gains Support

A bill filed by Massachusetts Senator Elizabeth Warren  to dramatically cut the interest rate on college student loans is gaining support.

Warren’s bill, which is the first she has authored as a Senator, has been endorsed by more than two dozen colleges and universities in Massachusetts, as well as several national progressive political groups.   It would link the interest rate on federal student loans to the rate the Federal Reserve charges to loan money to banks.  That would effectively lower the student loan interest rate from 6.8 percent to .75 percent.

Congressional inaction caused student loan rates to double on July 1st. Congress may vote on a retroactive rollback of the rates after the  Fourth of July  recess.

The record-setting tenure of Springfield Mayor Domenic Sarno. The 2011 tornado and its recovery that remade the largest city in Western Massachusetts. The fallout from the deadly COVID outbreak at the Holyoke Soldiers Home. Those are just a few of the thousands and thousands of stories WAMC’s Pioneer Valley Bureau Chief Paul Tuthill has covered for WAMC in his nearly 17 years with the station.