Nevada Legislature: Bill would let refinance student loans

Lawmakers have introduced a bill that would allow Nevadans to refinance their student loans and get a better interest rate.

Sen. Aaron Ford and a long list of Democrats are sponsoring SB215, which would create a refinancing program under the Nevada Department of Business and Industry. The director could issue revenue bonds to pay for the program.

The measure also creates a variety of resources that would educate students about loans, including a database ranking lenders and how favorable they are to borrowers. It would require colleges to distribute detailed information about the cost of higher education.

Ford says the bill will help ensure graduates can stay in the middle of class rather than struggling with debt.

The bill was introduced Thursday, but hasn’t yet been scheduled for a hearing.