Like Countable?

Install the App
TRY NOW

house Bill H.R. 2186

Should Borrowers Be Able to Refinance Their Federal Student Loans?

Argument in favor

Allowing student loan borrowers to refinance their student loans will lower their payments and let them spend that money in other parts of the U.S. economy.

jimK's Opinion
···
05/25/2019
The student loan program is yet another example of a program that sounds good at the outset- but has negative consequences long term. Yes, borrowers of any sort can re-finance, so student borrowers should be afforded this same opportunity. The student loan program directly led to the huge increases in College tuition, and trapped borrowers In a spiral of ever increasing debt, There was no counseling about getting an education in areas that the economy needs and is willing to pay for. The government failed these borrowers and needs to help get them out from under their crushing debt.
Like (98)
Follow
Share
Kodiwodi's Opinion
···
05/25/2019
It should be forgiven in total. Barring that, you can refinance any other loan, why not this? Arthur- SUGGESTION. Try Employment law as a paralegal. You have the most autonomy and you can work on your own representing anyone before any Administrative Judge. That includes any military, Union, Social Security, EEOC, Unemployment or Disability cases. Any case before an Administrative Judge does not require a lawyer just a representative.. You can really make a difference in your community and a good living.
Like (35)
Follow
Share
larubia's Opinion
···
05/25/2019
Since student loans cannot be part of a bankruptcy, it is only fair that they should be able to refinance the loan for a lower rate/longer period.
Like (32)
Follow
Share

Argument opposed

Borrowers should know what they're getting into when they apply for the student loans — If interest rates were too high when they signed, they shouldn't have borrowed.

tituswife's Opinion
···
05/25/2019
Get this out of the government, and return it to the banks. Then, let them decide. I did after I graduated, but the bank made the decision.
Like (14)
Follow
Share
Riley's Opinion
···
05/29/2019
If you take out a loan, pay it back. It's not free money.
Like (8)
Follow
Share
AmericaIsARepublic's Opinion
···
05/27/2019
Get the government out of the student loan business. It’s not constitutional. Government cannot be involved unless explicitly authorized by the constitution. Get the government out of the education business entirely as well. It’s not constitutional. Government cannot be involved in anything not explicitly authorized by the constitution. Reread the immediately preceding sentence over and over and over again until it becomes permanently ingrained in your brain.
Like (5)
Follow
Share

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Education and Labor
    IntroducedApril 9th, 2019
    The student loan program is yet another example of a program that sounds good at the outset- but has negative consequences long term. Yes, borrowers of any sort can re-finance, so student borrowers should be afforded this same opportunity. The student loan program directly led to the huge increases in College tuition, and trapped borrowers In a spiral of ever increasing debt, There was no counseling about getting an education in areas that the economy needs and is willing to pay for. The government failed these borrowers and needs to help get them out from under their crushing debt.
    Like (98)
    Follow
    Share
    Get this out of the government, and return it to the banks. Then, let them decide. I did after I graduated, but the bank made the decision.
    Like (14)
    Follow
    Share
    More importantly, get the federal government out of the student loan business altogether. Give more academic scholarships and grants. Reinvest in trade programs and apprenticeships. You don’t need a 4 year college degree for many of the things that they now want a degree for. The boomers told us “go to college go to college go to college” but the “better life” hasn’t happened for more that half of us since 1980. Anyway it’s silly to give loans on something that is fundamentally intangible. Education can’t be repossessed like a car or a house. So why bother paying it back? The hit to the credit score? But so many people have that it hardly means anything. They take your tax refund? Apparently we all owe taxes now so no one was getting a refund anymore anyway. In fact, most of us (including me) who are paying our student loans are doing so out of our sense of obligation to the social contract. Forgive them all and stop giving them out. End the federal inflation of tuition.
    Like (66)
    Follow
    Share
    It should be forgiven in total. Barring that, you can refinance any other loan, why not this? Arthur- SUGGESTION. Try Employment law as a paralegal. You have the most autonomy and you can work on your own representing anyone before any Administrative Judge. That includes any military, Union, Social Security, EEOC, Unemployment or Disability cases. Any case before an Administrative Judge does not require a lawyer just a representative.. You can really make a difference in your community and a good living.
    Like (35)
    Follow
    Share
    Since student loans cannot be part of a bankruptcy, it is only fair that they should be able to refinance the loan for a lower rate/longer period.
    Like (32)
    Follow
    Share
    Absolutely! Actually, I agree with Kodiwodi. We should wipe the debt clean and start over, reining in the excessive amounts these colleges are charging. I paid $1500.00, a year, inclusive of room and board, to go to a very well-known college in the 70’s. What they charge today is unconscionable. I know many of you think it would be unfair to those of us who struggled, yet paid our debt in full! However, those of us who paid our mortgages on time and weathered the 2007 debacle, had to sit by and watch as we bailed out the criminal bankers (who caused the mess, but were never punished for it) and saw thousands of people being forgiven for their mortgage debts, declaring bankruptcy and getting their credit rating restored, while those of us who religiously made our payments were not rewarded in any way. That was unfair, too. Yet we did it because it was a necessary thing to do. Just as getting this college debt forgiven, or greatly reduced is. We need to get these kids back in the mainstream. In the long term, it will benefit us all.
    Like (24)
    Follow
    Share
    Yes, student borrowers should be allowed to refinance their loan package, much like another type of loans. However, in my mind, a lack of Republican support makes me reluctant to put a check mark in the YEA box. Maybe a little investigation is needed since it appears that some version of this bill has been brought to the floor in prior years.
    Like (20)
    Follow
    Share
    It’ll make it easier for borrowers to pay back the loans when issues arise and it’ll allow lenders to recoup much more of the cost.
    Like (14)
    Follow
    Share
    Refinancing yes. But shouldn’t we investigate why the colleges are so EXPENSIVE???? They are for the most part ran and operated by LIBERALS AND LEFTISTS. Shouldn’t THEY BE INVESTIGATED??? Where is ALL the money going??? We all pay to play. And the Education in these days are terrible. Nice was a shining light in the entire world our colleges have dwindled to a smoldering pile of ashes. All of our countries schools not just Colleges have fallen behind the rest of the world why???
    Like (12)
    Follow
    Share
    It is to our advantage to educate our population so we can compete with other countries that have already surpassed us on education. The increase in the cost for college over the past several years had caused people who aren’t well off financially to require loans to go to college. And those loans are accompanied by high interest rates. It’s nearly like we are trying to dumb down the citizens of our country. And, if you watch what is happening now, I think it’s working. I’d like to see more states fund college by lottery or otherwise. But, at the very least college loans interest rates should be eliminated.
    Like (12)
    Follow
    Share
    I’m all for students being able to Refinance Their ”Student Loans” Allowing student loan borrowers to refinance their student loans will lower their payments and let them spend that money in other parts of the U.S. economy. SneakyPete..... 👍🏻👍🏻 Refinance 👍🏻👍🏻. 5.25.19.....
    Like (11)
    Follow
    Share
    Students need all the help they can get to meet their goals of a fruitful career without the lingering debts.
    Like (9)
    Follow
    Share
    Of course they should be able to refinance! Americas youth is being held in lifetime debt for simply getting an education which we all benefit from so banks can make record profits. Our congress does nothing because too many are working for the benefit of the banks at the expense of our young citizens. Unacceptable!!!
    Like (9)
    Follow
    Share
    If you take out a loan, pay it back. It's not free money.
    Like (8)
    Follow
    Share
    Yes. Allow borrowers to refinance Federal student loans.
    Like (8)
    Follow
    Share
    I support this refinance bill as long as the student's payment history is good on the loan. I think that this is a fair compromise to addressing the issue of educational costs rather than free education that only redeploys the cost to other taxpayers.
    Like (8)
    Follow
    Share
    Yes & in some cases forgiven entirely. How about bailing out the people for once. Trillions were gifted to bail out ‘too big to fail’ banks in 2008 to prevent a mortgage collapse. Less was needed to simply refi or forgive all sub-prime mortgages. We now face the exact same problem with student debt. Let’s see who gets bailed out this time. Spoiler alert - not the people.
    Like (7)
    Follow
    Share
    Of course!
    Like (7)
    Follow
    Share
    Schools charging this much is insane. End this disaster before we have the next recession
    Like (7)
    Follow
    Share
    The Nay reason sounds like something a tyrant would establish. We’re supposed to be a free market. I know government has taken over student loans, but this ruling should open up the market to provide cheaper and better services to students. Government should NOT be in any loan business.
    Like (6)
    Follow
    Share
    MORE