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Durbin Calls for Opposition to Student Loan Policy Changes

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Illinois U.S. Senator Dick Durbin is calling on students to oppose upcoming changes in college financial aid.

Durbin says come July, some students will be getting less grant money but at the same time, paying more for their loans.

The new program freezes interest rates at 6.8 percent instead of the current system, fluctuating rates that depend on the economy.

Durbin says these new measures are unfair.

""Too many students are ending up with a ball-and-chain that they have to drag around for decades because of the indebtedness they get into,"" Durbin says.

Durbin says students should vote for candidates in the upcoming elections that will fight to stop changes in the federal financial aid policy.

A representative for Sallie Mae, the largest private student loan company in the U.S., says it’s against the changes as well.

Sallie Mae says the federal government should be investing in education, not cutting it as it did with the Deficit Reduction Act of 2005. “

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