WEEK - Durbin Talks Student Debt at SIU

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By WEEK Producer

Today, U.S. Sen. Dick Durbin spoke to students at Southern Illinois University about something he says many of them aren't prepared for: student loan debt.

Durbin announced he plans on taking a measure to Washington next month that will allow students to renegotiate and refinance their student loans to.

It's something he calls a bipartisan issue saying everyone deserves the opportunity to pay off their debt.

"When the interest rates comes down it means that your payments will reduce more of the principle, your payments may be lower and you may pay of your loan more quickly," said Durbin.

He added that student loan debt recently hit $1.2 trillion.

That's greater than credit card debt in the U.S.

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