ms. loonin if he would begin.thank you to all three of you for your service and public service. >> thank you, center. and thank all of you for inviting us to testify today. again, my name is deanne loonin coming and i am here on behalf of the low-income clients that we represent and work with. it's important just from the outset that when we talk about students that we work with, they aren't just young people going to additional cost, that actually the space of higher education is much more diverse these days and we have clients who are what are called nontraditional students meaning they are often older when they go back to school. the of their independence, they actually are independent themselves, they don't have parents or families to fall back on. so, we actually have clients that are still suffering under the burden of student loan debt through their lives have been taken out loans and in some cases parents having cosigned for their children. most of our clients have federal student loans. so what we salles

ms. loonin. you made a rather telling statement. mr.hopra in the beginning comments on the first panel spoke about the difficulty in refinancing and potentially students are our worst know enough about this refinancing opportunities and refinancing opportunities if you will. what types of relief or free financing opportunities are currently available to private student loan borrowers and i would like to hear ms. loonin's answer and also the other two briefly if you would comment and then at the same time elaborate on any sort of barriers or federal rules that may impinge lenders ability to provide those relief options to those borrowers. >> thank you senator. right now what we have been able to see working with our clients is there are very few private loan refinancing options even available. a lot of our clients are lower credit score may be because of that but we also hear from borrowers through our web site our web site and others who are looking, prime borrowers who are having same problem so i would say there are very few products

ms. loonin. you made a rather telling statement. mr. chopra in the beginning comments on the first panel spoke about the difficulty in refinancing and potentially students are our worst know enough about this refinancing opportunities and refinancing opportunities if you will. what types of relief or free financing opportunities are currently available to private student loan borrowers and i would like to hear ms. loonin's answer and also the other two briefly if you would comment and then at the same time elaborate on any sort of barriers or federal rules that may impinge lenders ability to provide those relief options to those borrowers. >> thank you senator. right now what we have been able to see working with our clients is there are very few private loan refinancing options even available. a lot of our clients are lower credit score may be because of that but we also hear from borrowers through our web site our web site and others who are looking, prime borrowers who are having same problem so i would say there are very few product

ms. loonin. ms. mishory, thank you for joining us. >> young and in supposes a non- profit, non-partisan organization that seeks to make sure that our perspective is heard whenever decisions about ourrspective is heard in our decisions about a collective future of being made. this spring we released a report detailing the experiences of high debt or worse with private student loans. the report analyzes subset of an on line survey of about 13,000 borrowers. additionally young individuals completed a 40 city national -- our interaction with young people make it clear. borrowers are struggling, students are confused and as a private loan market rate emerges students need more guidance and protection. as as been detailed already away to the pipeline rket has shifted significantly in the past 10 years. more predatory lending led to significant increases in in the prerecession private market. after the credit market dried up the lending standards tightened in the market merged and consolidated. recently the

ms. loonin. you made a rather telling statement. mr. chopra in the beginning comments on the first panel spoke about the difficulty in refinancing and potentially students are our worst know enough about this refinancing opportunities and refinancing opportunities if you will. what types of relief or free financing opportunities are currently available to private student loan borrowers and i would like to hear ms. loonin's answer and also the other two briefly if you would comment and then at the same time elaborate on any sort of barriers or federal rules that may impinge lenders ability to provide those relief options to those borrowers. >> thank you senator. right now what we have been able to see working with our clients is there are very few private loan refinancing options even available. a lot of our clients are lower credit score may be because of that but we also hear from borrowers through our web site our web site and others who are looking, prime borrowers who are having same problem so i would say there are very few product