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Senate Republicans block student loan bill


SIOUX FALLS, S.D. (KELO AM) - Senate Republicans today blocked an attempt by Democrats to let people refinance student loans at lower rates.

Senator Tim Johnson says student debt can be crippling for borrowers.  Johnson says the bill would have helped an estimated 81,000 borrowers in South Dakota refinance their student loans at lower interest rates.

Johnson says in order to realize the American dream it's never been more important for young people to attend college or get post-secondary training.  He says a college education can open doors and provide a ticket to the middle class.

Johnson says growing tuition costs and student loan debt have made it harder for young people to pursue their educational dreams after high school.

Republicans accused Democrats of looking for political issues and raising taxes.