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In a bid to ease student debt, California considers a role in helping refinance private loans

 The LA Times “Chiang is sponsoring legislation that would create a $25-million fund that would offer a degree of protection to student loan providers. With the state assuming some of the risk, the measure’s proponents say financial institutions will be more likely to offer lower interest rates to those carrying student debt. We know that unfortunately too many Californians, too many Americans, are saddled with extraordinary debt,” Chiang said in an interview, touting his plan as an effort to “try to get them out of debt as quickly as possible.”Read More Here

Congress could pump the brakes on these new retirement plans

 The Washington Post “Every dollar that isn’t saved is a dollar that is going to have to come out of the state budget,” said Tobias Read, the state treasurer for Oregon, which is on pace to launch its state-run IRA this summer.Oregon intends to move forward with the retirement plan regardless of how the Senate acts, Read said. John Chiang, the state treasurer for California, said his state would continue to “fight back” the efforts to halt the accounts. Both men said eliminating the labor rule may make it difficult for states to proceed by not making it explicitly clear...