U.S Senate Blocks Student Loan Bill

The U.S Senate blocked a bill Wednesday, that would allow students to re-finance loan debt at a lower rate.

The bill needed 60 votes to advance in the Senate. It only got 56. The bill would have lowered the rate for people with student loans and would have been financed by the "Buffett Rule" which taxes individuals earning more than a million dollars.

Republicans called the bill an election year gimmick.

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