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St. Paul, Minn.

Franken: Student debt stymies the U.S. economy

Sen. Al Franken
Sen. Al Franken at the DFL Convention in Duluth on May 31.
Paul M. Walsh/For MPR News

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Student debt is in the spotlight this week in Washington. On Monday, President Obama signed an executive order that allows more borrowers to cap student loan payments at 10 percent of their monthly income. Meanwhile, the Senate may vote today to debate a bill that would allow millions of Americans to refinance their student loans at lower rates. That bill, written by Massachusetts Sen. Elizabeth Warren, faces heavy Republican opposition. MPR's Phil Picardi spoke with Minnesota DFL U.S. Sen. Al Franken about the proposal. Franken is a co-sponsor of the legislation.