Dick Durbin: “this week Democrats are going to continue the conversation about college affordability. I was joining Senator Elizabeth…”

“this week Democrats are going to continue the conversation about college affordability. I was joining Senator Elizabeth Warren of Massachusetts, Jack Reed of Rhode Island, Al Franken of Minnesota and many others--in fact, 24 others, to introduce the Bank on Students Emergency Loan Refinancing Act. Why are we talking about student loans? Ask working families; ask their kids why we are talking about it. Because there is more student loan debt in America today than there is credit card debt. It is huge. It is growing. If you finished college a few years back like me and had a student loan that worried you, you would not believe what students are facing today. The average student coming out of college: $25,000 in debt. Imagine sitting down at the desk in the college admissions office at age 19 as they push the papers across the desk to you and ask you to sign up for $10,000, $15,000 or $20,000 in loans so that you can start your class on Monday. There you sit with $20,000 in loans to start your class on Monday. You are 19 years old. Wait a minute. Mom and dad have to cosign them with you. That is not unusual. So now it is a family debt. I had a press conference in Chicago on Monday. This wonderful woman came in and told the story about how she and her husband with two sons were determined to get them both through college. But she has not been able to do it. Do you know why? Because the first son took 5 years.…”