On Capitol Hill, Sen. Jack Reed joined by Senators Al Franken and Elizabeth Warren outlined legislation Wednesday that curbs student loan debt.
The bill allows federal and private student loans to be refinanced at a lower rate with no refinancing fees. The interest on some loans can reach 14 percent. The bill lowers that to 3.86 percent. Reed said the bill is critical to the country’s future.
There is one element of the U.S. Congress that government shutdowns, fiscal Thelma and Louise threats, and the endless disputes over Obamacare never seem to touch: the relentless search for campaign money by senators and representatives.
The latest Rhode Island example is 1st District Democratic Congressman David Cicilline. The ink was barely dry on the eleventh-hour deal that delayed the shutdown craziness for 90 days or so when Cicilline was on the Internet, begging for campaign money.