Warren said Tuesday that many of those with outstanding loans have interest rates of nearly 7 percent or higher for undergraduate loans while students taking out new undergraduate loans pay a rate of 3.86 percent.
The Massachusetts Democrat said the nation’s $1.2 trillion in student loan debt is “crushing young people and dragging down our economy.”
She would pay for her proposal with a tax increase on wealthy Americans.
The bill is co-sponsored by more than 20 fellow Democratic senators "
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