Congressmen Mark Pocan, D-Wis., and Scott Peters, D-Calif., along with 21 other House Democrats, have introduced legislation to lower all federal student loans to 4 percent and allow borrowers to refinance their student loans at a lower rate.

H.R. 4622, the Federal Student Loan Refinancing Act, is a companion to a bill that was introduced in the Senate on Friday by Sen. Kirsten Gillibrand, D-N.Y.

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