UI students optimistic after meetings on loan rates

UI students optimistic after meetings on loan rates

A member of the University of Illinois Student Senate said he's optimistic about meetings with lawmakers on a potential hike in some student loan interest rates.

Student Senator Tony Fiorentino and other concerned students spoke with Senator Dick Durbin on Saturday and Congresswoman Jan Schakowsky on Monday.

Fiorentino said he's hopeful that Durbin will continue to keep student interests in mind.

Fiorentino added that students asked Durbin to support Senator Elizabeth Warren's bill, which would let students borrow money at the same rate banks do from the Federal Reserve.

He also said there will be a student debt awareness campaign on campus this fall to keep students up to date on federal and state loans, education policies and reasons why students end up owing so much.

But he said the most important part of the campaign is getting students to make their voices heard.

Interest rates for some student loans are expected to double on July First if Congress does not take action.

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