US Sen. Warren eyeing vote on student loan bill - 7News Boston WHDH-TV

US Sen. Warren eyeing vote on student loan bill

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BOSTON (AP) - U.S. Sen. Elizabeth Warren is trying to stir up support for her student loan bill ahead of an expected vote in the Senate.

Warren's bill would let college graduates with existing federal student loans refinance those loans at the lower interest rates now offered to new borrowers.

To help pay for the program, Warren's bill would phase in a new minimum tax in 2015 for individuals with adjusted gross income between $1 million and $2 million.

On Monday, Warren and Congressman John Tierney, a fellow Massachusetts Democrat, are planning to attend a White House event where President Obama is expected to address the issue of college affordability and accessibility.

Warren's bill likely faces stiff opposition from Republicans who oppose the tax increase.

A vote on the bill is expected Wednesday.

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