college loans

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"It's absurd to me that you can refinance a mortgage or a business loan, but you can't re-finance a college loan? I don't think the government should be making money off the backs of students." ~ Sen. Kirsten Gillibrand

Total student debt in America has hit the $1 trillion mark, exceeding, for the first time, national credit card debt.  Yet at this very moment, the airways and media outlets are alive with stories and opinion pieces regarding the imminent doubling of the interest rate on new Stafford Subsidized Loans to undergraduates.  While in college at least half-time, students holding such need-based, federally guaranteed loans pay no interest; rather, the government pays the interest which accrues during that time. These loans, currently at a  3.4% interest rate, represent a critical element in the to