Durbin Proposal Tackles Student Loans

Senator Richard Durbin at Loyola University in ChicagoIllinois college students are graduating with an average of $28,000 in debt -- and there are nearly 1.7 million people in the state with outstanding student loans. U.S. Sen. Richard Durbin is touting new legislation to reduce the interest rates that is causing some debt to balloon out of control.

He spoke today at Loyola University to explain a refinancing plan. Brandis Friedman will have the details. 




Source: Illinois Student Assistance Commission, Illinois Board of Higher Education

Watch entire press conference below.

--Graphic by Taurean Small