Brava to Elizabeth Warren. Her bill (S 897) requests that students get the same interest rate on their student loans that banks are getting, aka 0.75 interest. It's an excellent idea.
However, I wonder what percent of the loan needs to paid back every month. Should it be a higher amount since the interest rate will be so low?
If the monthly minimum payment rises because the interest rate is so low, than the number of defaults may remain the same, and that could result in a backfire in which the financial section says..."See, I told you they (the students) would default anyways!"
Of course, if the student has no way to suspend this loan, than it may probably backfire.