College students today are drowning in debt, and it is hurting them and hurting our economy. We must find a way to help families pay for college without condemning them to a lifetime of indebtedness.
Refinancing won't fix everything that's broken with our [American] higher education system. We've got to bring down the cost of college. And we need more accountability for how schools spend federal dollars.
We need to align the incentives so that colleges have an incentive to keep down their costs... to graduate students on time with degrees in areas where they're going to be able to get jobs and going to be able to pay back those loans.
Adjusted for inflation, somebody going to college today to a state university, is paying about 300 percent of what her mom or dad did just 30 years ago.
That is especially important as more young people must take on huge debt loads to go to college.
