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Democrats in the U.S. Senate have proposed a higher-education bill that would boost college aid, encourage universities to hold down costs and allow students to refinance higher-interest college loans.
The additional help would come, in part, at the cost of lending institutions, as students would be able to save thousands of dollars in loan payments.
As college costs continue to rise and states struggling with deficits tighten their belts, lawmakers have begun to roll out their plans for the renewal of the Higher Education Act, which expires next year. Senior Democrats on the Senate education committee have made lower college costs and greater loans their …