{"id":128283,"date":"2022-07-24T13:18:22","date_gmt":"2022-07-24T17:18:22","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=128283"},"modified":"2022-07-24T13:18:22","modified_gmt":"2022-07-24T17:18:22","slug":"bill-introduced-that-would-allow-federal-student-loans-to-be-refinanced-at-0","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=128283","title":{"rendered":"Bill introduced that would allow federal student loans to be refinanced at 0%"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/06\/loan1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-126534\" src=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/06\/loan1-300x196.png\" alt=\"\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/06\/loan1-300x196.png 300w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/06\/loan1-500x326.png 500w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2022\/06\/loan1.png 750w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>A Democrat Senator, Sheldon Whitehouse, introduced a bill related to federal student loans. If this bill passes both chambers and gets signed into law, many with student loans would be able to refinance their loans at 0%. The name of the bill is Zero-Percent Student Loan Refinancing Act.<\/p>\n<p><span style=\"color: #0000ff;\"><b>From FOXBusiness:<\/b><\/span><\/p>\n<blockquote><p>Currently, federal student loans are in COVID-related forbearance and payments have been paused until Aug. 31st. During this time, borrowers are not required to make payments on federal student loans and their interest rates have been set to 0%. The Department of Education has also stopped collections on defaulted loans during this time.<\/p>\n<p>But outside of this payment pause, some types of federal student loans accrue interest even during periods of in-school deferment, hardship forbearance and other times when payments are not due. And some borrowers who are on an income-driven repayment plan may even have a monthly payment that is too low to cover the interest accrual each month.<\/p>\n<p>In fact, a 2021 joint report from the National Consumer Law Center and the Center for Responsible Lending found that 63% of student loan borrowers who made payments during the aforementioned payment pause still owe more now than they originally borrowed.<\/p>\n<p>But Whitehouse said this new bill would eliminate these interest rates, allowing borrowers to make their full payments toward their principal balance. It would allow student loan borrowers to refinance their federal loans to 0% for all eligible FFEL, Direct, Perkins and Public Health Service Act loans. The bill would allow for the refinancing through Dec. 31, 2024. And it would also automatically refinance the student loan debt for Direct loan holders.<\/p><\/blockquote>\n<p>FOXBusiness has the article <a href=\"https:\/\/www.foxbusiness.com\/personal-finance\/federal-student-loan-borrowers-refinance-0-interest-rate?dicbo=v1-ffd0ac8a5a637347ce766380c2265f9d-00e17b74303517cbe6bf08cea931e9f870-he4gmnjuge2daljshe4daljugvrwellbgq2wmljtgjsdcmrsge4wgyjvg4\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Democrat Senator, Sheldon Whitehouse, introduced a bill related to federal student loans. If this bill &hellip; <a title=\"Bill introduced that would allow federal student loans to be refinanced at 0%\" class=\"hm-read-more\" href=\"https:\/\/www.azuse.cloud\/?p=128283\"><span class=\"screen-reader-text\">Bill introduced that would allow federal student loans to be refinanced at 0%<\/span>Read more<\/a><\/p>\n","protected":false},"author":661,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[472,47,13,271],"tags":[],"class_list":["post-128283","post","type-post","status-publish","format-standard","hentry","category-democrats","category-liberals-suck","category-society","category-ygbsm"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/128283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128283"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/128283\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}