Bill would help students swap loans

The Columbus Dispatch

U.S. Sen. Sherrod Brown introduced a bill today that would help Americans refinance private student loans to more-affordable options.

Brown's "debt-swap" proposal, which he says would not cost taxpayers, would help individuals convert private loans to federal unsubsidized Stafford loans, which carry a 6.8 percent fixed interest rate. Many private loans carry interest rates that top 18 percent, he said.

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