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Sanders supports move to lower college costs - WCAX.COM Local Vermont News, Weather and Sports-

Sanders supports move to lower college costs

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WASHINGTON -

Student loans are a big issue in Washington this week.

Tuesday, President Obama signed a memo expanding a program that caps student loan payments at 10 percent of a borrower's income every month and forgives outstanding balances after 20 years of repayment.

Wednesday, the Senate votes on a bill that would allow borrowers to refinance their student loans at lower rates. Vermont Senator Bernie Sanders supports the move as part of his agenda to lower college costs.

"Number one, we have to lower the cost of college so that working families can afford to send their kids to school. Number two, we have to allow those people who have student debts to refinance and get lower interest rates. Number three, when possible, if those students who are now in high school are able to take college courses and get credit for them, I think that would be a great step forward," said Sanders, I-Vermont.

The rate cut bill up for vote Wednesday is being called a political stunt by Republicans; its chances of passage are considered slim.

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