SIOUX FALLS, S.D. (AP) - Democratic U.S. Senate candidate Rick Weiland says college students graduating with student loans carrying higher interest rates should get some relief.
Weiland said Wednesday that he’s supporting Sen. Elizabeth Warren’s emergency loan refinancing act, which will allow people to refinance loans with rates of 5 percent and 6 percent down to 3.86 percent.
The lone Democrat in the crowded race for the seat being vacated by retiring Sen. Tim Johnson says that loans are used to pay for technical schools, not just colleges and universities. He says three-quarters of South Dakota graduates leave school with some debt.
Weiland says South Dakota’s young people would benefit tremendously from Warren’s legislation as they struggle to begin their careers.
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