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Barack Obama

Backs College Debt Refinancing Bill

7 Jun, 2014

Obama supports bill allowing graduates with heavy education debt to refinance. He notes that elimination of tax loopholes for millionaires will pay for the program and says the choice facing lawmakers is whether to

protect young people from crushing debt or protect tax breaks for millionaires.

Senate Republican leader Mitch McConnell of Kentucky disagrees with the President and says:

This bill doesn’t make college more affordable, reduce the amount of money students will have to borrow, or do anything about the lack of jobs grads face in the Obama economy.