The Democrats were proposing legislation to compliment the President’s order to allow refinancing of current student loan debt and to not wait until 2015. The Republicans threatened to block it after the President signed the Order; and they delivered on their promise. Student Debt Refinancing has been blocked.
It is additionally speculated that the Student debt refinancing legislation was blocked because The Republicans are reviewing Cantor’s defeat is due to “compromises” with the democrats on other issues which forced the Tea Party to pull support. Therefore, back to gridlock. Can’t stress enough to call your local congressman and senators….It matters.