Sen. Baldwin talks student loan debt reform with UW students - WKOW 27: Madison, WI Breaking News, Weather and Sports

Sen. Baldwin talks student loan debt reform with UW students

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MADISON (WKOW) -- Senator Tammy Baldwin makes a stop at the UW campus Friday to talk to students about student loan debt reform.

Sen. Baldwin is a sponsor of the emergency loan refinancing act, which would allow people with outstanding loan debt to refinance at much lower interest rates, which are now being offered to incoming students.
   
Baldwin says the refinancing would be paid for through what's known as the "Buffett rule".

She says, "Basically saying should millionaires and billionaires pay their fair share in taxes, in order for us to be able to pass this legislation, and allow for the refinancing at much lower interest rates and affordable rates."

The bill is similar to one introduced at the state level by Representative Cory Mason and Senator Dave Hansen.
   
The Higher Ed, Lower Debt bill has support from all 54 democrats in the legislature, but no republicans.


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