E-Newsletter: Student Loans and Child Hunger

Statement

Addressing the Burden of Student Loans

Most college students or parents with children in college can agree -- college affordability and student loan debt are major concerns. According to the Consumer Financial Protection Bureau, federal student loan debt now tops $1 trillion -- a staggering figure which is higher than our country's total credit card debt. Our country suffers when we price higher education out of the reach of students or leave them with years of carrying an enormous debt burden. That debt harms our economy by preventing people from purchasing homes, buying cars and starting families.

To make matters worse, as of July 1st rates for new student loans increased by 0.8 percent for undergraduate students, graduate students and parent plus loans. This did not have to happen -- there is legislation in Congress, which I support, that could have prevented those increases.

I'm a cosponsor of H.R. 1330, the Student Loan Fairness Act, which would cap rates for federal student loans at 3.4 percent -- reducing interest rates and stopping the increases that went into effect on July 1st. I'm also a cosponsor of H.R. 4582, the Bank on Student Emergency Loan Refinancing Act (Rep. John Tierney's bill -- Sen. Elizabeth Warren has a similar bill in the Senate), which would allow existing federal and private student loan borrowers to refinance their loans at last year's rates.

Passing these bills would help make higher education affordable for hard working students and their families. For more information please visit my website -- you will find a Student Loan Toolkit that offers great resources and my statement on the July 1st increases. I will continue to work with anyone who is willing to find solutions on student debt. If you have any questions about paying back student loans feel free to call my office -- we would be glad to help you in any way possible.

Ending Child Hunger in Our Communities

One in every five children in Cook County is at risk of hunger. Almost 90 percent of low-income children who receive free and reduced lunch during the school year don't get summer meals. However, there are resources to help these children.

Last week, I visited the summer meals program at the High Ridge YMCA, sponsored by the Greater Chicago Food Depository. I met dozens of children who benefit from the program, as well as volunteers who donate their time and resources to fight hunger. There is really a critical need in our communities to step up our efforts to ensure that no kid goes hungry.

Please feel free to contact my office for more information about summer meals. Thank you!

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