Obama’s speech came just hours after another student loan bill failed in Congress. Senator Ed Markey looked on as a bill proposed by fellow Massachusetts Senator Elizabeth Warren failed on a procedural vote. Warren’s bill would have allowed some graduates to refinance their student loans at lower rates.
While Washington continues to argue over how to help families pay for college, there’s no disputing the rising debt load facing students. And that has some critics calling even the modest loan reform measures insufficient.
Mike Wasserman is the executive director of Bottom Line, a non-profit dedicated to improving college graduation rates of low income students.