student loans

T.J. Carson

The two candidates in Illinois’ 17th Congressional District race agree that student loan debt is a problem in the country. But they disagree on how to address it.

Rich Egger

College costs and student loans aren’t being discussed enough, but maybe this month’s increase of student-loan interest rates will start something.

Altering Student Loan Repayment Schedules

Mar 13, 2014
Huffington Post

The Illinois General Assembly is considering a plan for alternative student debt repayment programs.

In the last year progressives such as Independent U.S. Sen. Bernie Sanders from Vermont and Tea Party-endorsed U.S. Sen. Rand Paul from Kentucky have blasted the Federal Reserve, the United States’ central banking system. If Tea Party and progressive types are truly independent and populist, they should support the new bill by Massachusetts’ Democratic U.S. Sen. Elizabeth Warren that would ensure that college students get equal treatment under the law for borrowing and make the Federal Reserve contribute to society, not just the rich and powerful.

More than 100,000 people in all 50 states already have signed an online petition as part of a grassroots campaign on that demands Sallie Mae stop charging unemployed college graduates or other student borrowers a $50 fee for forbearance on their student loans.

Borrowers who can’t pay the extra $50 fee are put into default.