On the recordSeptember 16, 2014
I spent much of my time over the August recess visiting college campuses and talking to current students and graduates about their student debt. I visited Northern Illinois University in De Kalb, Judson University in Elgin, and Lincoln Land Community College in Springfield, and University of Illinois at Chicago. With an estimated 1.7 million Illinoisans holding a combined $47 billion in student loan debt, it is no wonder that it was on the minds of nearly everyone I spoke with. On average, Illinois graduates of the Class of 2012 left with $28,028 in debt--but individual debt is often much higher. I have had students contact me who have upwards of $100,000 in debt and no chance to ever pay it off. For too many young Illinoisans, and students across the country, the opportunity for a fair shot at an affordable college education has become a long shot. They do the right thing--they go to school to get ahead but end up with so much debt that it becomes impossible for them to ever pay it back let alone get ahead. I recently met Jessica Ibares at NIU. Jessica graduated from Northern Illinois and is now working as a financial aid counselor. How about that? She helps others figure out how to pay for their education, but struggles paying for her own. She holds almost $40,000 in Federal student loan debt that she'll have to start repaying in November.…





