Blumenthal Statement On Senate Failure To Advance Student Loan Refinance Bill

(Washington, DC) – Today, U.S. Senator Richard Blumenthal (D-Conn.) released the following statement after the Senate failed by a vote of 56-38 to advance the Bank on Students Emergency Loan Refinancing Act (S.2432), a bill that would allow those with outstanding student loan debt to refinance at the lower interest rates currently offered to new borrowers:

“Although I’m disappointed by today’s outcome, I remain as dedicated and passionate as ever to giving students a fair shot. Today’s vote is a setback for American students, families, and the American economy, but we will bring this bill back to the floor where we will eventually win this fight. Once again, the misuse of arcane Senate rules has done a disservice to the American people, most especially current, former, and prospective students who are trying to better themselves.”