by Chad Miller
American Action Forum
June 17, 2014
Sen. Elizabeth Warren (MA) recently introduced legislation, the Bank on Students Emergency Loan Refinancing Act, to allow borrowers of both federal and privately held student loans to refinance their student loans using taxpayer dollars. Despite its welcome reception by some groups, this is a flawed bill that raises serious questions about the merits of federal activity in student lending. Absent from the discussion is the risk it will transfer to taxpayers, the inequalities it threatens to exacerbate, and the limited impact it would have on college access. This bill is a prime example of the federal government overstepping its bounds, burdening taxpayers, and achieving little for it.



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