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Elizabeth Warren On Student Loans 09:01
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Sen. Elizabeth Warren, D-Mass., listens to a witness at Senate Banking Committee hearing on anti-money laundering on Capitol Hill in Washington, Thursday, March 7, 2013. (AP)
Sen. Elizabeth Warren, D-Mass., listens to a witness at Senate Banking Committee hearing on anti-money laundering on Capitol Hill in Washington, Thursday, March 7, 2013. (AP)

One trillion dollars. That's how much Americans owe in outstanding student loans. The heavy debt burden is a drag on the economy, and tough on young people starting out in life. And that burden is about to get a whole lot heavier.

Unless Congress acts, interest rates on government-subsidized student loans will double next month, from 3.4 percent to 6.8 percent. There are a number of bills and proposals in Washington to prevent the rate hike.

Guests

Elizabeth Warren, U.S. senator from Massachusetts. You can find the text of her bill here.

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WBUR "A proposal to freeze those rates could come to a Hill vote this week. And Massachusetts U.S. Sen. Elizabeth Warren is pushing her own stopgap measure that would radically reduce interest rates for one year. It’s the first piece of legislation she’s introduced since being elected last November, and while it’s drawing some support, it’s also attracted scorn."

This segment aired on June 6, 2013.

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