Senate Bill Would Help Borrowers Refinance Private Student Loans

Borrowers struggling to repay private student loans would be able to refinance their debt at lower rates under a bill introduced on Tuesday by Senate Democrats.

The bill, which Sen. Sherrod C. Brown of Ohio unveiled during a banking-committee hearing, would allow the secretary of the treasury to temporarily purchase private loans or provide lenders with low-cost capital, much as the government did with federal student loans