On Wednesday, U.S. Senators Shelley Moore Capito (R – W.Va.) and Kelly Ayotte (R – N.H.) introduced the Student Loan Relief Act of 2015.
It would allow borrowers to refinance their federal student loans into the private market and take advantage of lower rates.
Seventy percent of West Virginians graduated with student loan debt, averaging over $27,000 each. New Hampshire leads the nation in average student loan debt at nearly $32,800 per student.
Capito said she believes West Virginia students are bearing a huge load on their shoulders, and this act could help ease the repayment.
“It should be welcome news and it’s a good, solid piece of legislation I think that will make a difference in a lot of students lives,” Capito said.
She added the legislation was well received by her colleagues, who are working to come up with a solution to the high numbers of people struggling with student loan debt.