Brown backs bill aiming to simplify college loan information

Columbus Dispatch

Kelly McVicker borrowed more than $40,000 to pay for college, but his loans were his undoing: When the Toledo man was on a cusp of getting a job with a good salary, he was rejected. He didn’t pass the credit check because of his student loans.

Now the manager of a convenience store, McVicker, 30, owes more than $70,000, counting fees, penalties and interest. The job, he said, “wasn’t really what I envisioned doing with my degree.”

McVicker is one of hundreds of thousand college students who have racked up more than $1 trillion in student loan debt combined. Sen. Sherrod Brown, D-Ohio, called for the Senate to pass a bill he introduced that would allow students with private loans to refinance to more affordable options. The bill, he said, wouldn’t cost taxpayers a dime.

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