WASHINGTON – U.S. Senator Chris Murphy (D-Conn.) released the following statement on the Bank on Students Emergency Loan Refinancing Act, which was blocked by Republicans in the Senate today. The bill would allow those with outstanding student loan debt to refinance at the lower interest rates currently offered to new borrowers.

Allowing students to refinance their loans will make college more affordable for millions of people, plain and simple. But despite that, Republicans have yet again blocked another piece of legislation that would help strengthen the middle class, level the playing field, and shrink the income gap that continues to persist in this country. Student loan debt is holding too many Americans back from achieving their financial and professional goals, and allowing this debt to balloon as it has is unacceptable. The bottom line is that we need to put middle class first and we can’t do that without taking action on college costs. Reducing the cost of college needs to be a top priority as we work together to increase economic opportunities for all Americans.