By Maria Hickey, KWMU
St. Louis, MO – One of the items U.S. Senator Dick Durbin says Democrats will address when they become the majority is the rate of student loans.
The Illinois Democrat says he's concerned students aren't finishing college in part because of the cost of loans. He says changes to the nation's student loan program will make it harder for some to afford college.
Rates rose by 2% this summer. "Two percent per loan may not sound like that much, but because of that increase students will pay 20% more in paying back their student loans over the life of the loan," Durbin said Friday, in St. Louis.
The Senator also says changes prevent students from negotiating lower interest student loans while they're in school.
When Congress convenes after the New Year, Durbin will be the majority whip -the number two leadership position.