Young Invincibles’ Deputy Director Rory O’Sullivan writes for The Hill’s Congress Blog on student loan refinancing as it comes up for a vote this week in the U.S. Senate:

“The soaring cost of college and static federal financial aid support have left millions of students with no option but to take out private loans to pay for college. This has severe financial consequences. Unlike federal loans, private loans lack protections like interest rate caps or income-based repayment programs that reduce monthly bills. That can mean hundreds of dollars more per month in payments that many borrowers simply can’t afford.” Read more here.