{"database": "press", "table": "releases", "rows": [["https://www.durbin.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=9b39e962-ea0f-4120-995c-48fcb19106be", "Durbin Introduces Student Loan Borrower Bill of Rights", "2013-12-03", "2013", "2013-12", "Democrat", "House", "IL", "Richard Durbin", "D000563", "www.durbin.senate.gov", null, null, "legacy", "12.03.13\n\t\t\t Durbin Introduces Student Loan Borrower Bill of Rights \n\t\t\t\n\t\t\t\t\n\t\n\t\n\t\n\t\n\t \n\t\t\n\t\n\t\t\t\n\t\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n        \n\t\t\t\t Legislation Will Reform Disclosure and Servicing Standards for Both Federal and Private Student Loans\n\t\t\t\n\t\t\t [CHICAGO] \u2013 U.S. Senator Dick Durbin (D-IL) today announced that when the Senate reconvenes next week he and U.S. Senators Elizabeth Warren (D-MA) and Barbara Boxer (D-CA) will introduce legislation to ensure struggling student loan borrowers understand the full range of repayment options and resources available to them and are treated fairly by the financial institutions servicing their loans.\r\n\u00a0\r\n\u201cStudent loan debt has tripled over the last decade with more than 40 million borrowers owing about $1.1 trillion on their student loans and student loan debt now surpasses credit card debt.\u00a0 This generation\u2019s college graduates begin their adult lives with $25,000 or more in debt weighing them down,\u201d Durbin said.\u00a0 \u201cWith student loan debt far outpacing the rise in starting salaries, many of these borrowers find they are unable to make their monthly payments.\u00a0 When lenders refuse to work with them on a repayment plan, they begin a downward spiral that is difficult to turn around.\u00a0 That debt keeps them from being able to purchase homes, cars or other goods which fuel our economy.\u00a0 That\u2019s why, when I return to Washington next week, I will introduce the Student Loan Borrower Bill of Rights to help those struggling with loan debt.\u00a0 Every borrower should have basic protections when it comes to their student loans.\u201d\r\n\u00a0\r\nA recent report by the Consumer Financial Protection Bureau revealed that servicing standards are in need of reform to ensure borrowers are informed and can access basic information about their loans.\u00a0 Though many students hold federal student loans with strong consumer protections, a growing number take out private loans that carry no limits on interest rates and offer few, if any, alternative repayment plans.\u00a0 In some cases, even federal student loan borrowers are unaware of options like income-based repayment and public service loan forgiveness.\u00a0 Payments are sometimes misallocated to loans with lower interest rates, preventing borrowers from paying loans off quickly, and borrowers report significant challenges in resolving errors on their accounts in a timely manner.\u00a0\r\n\u00a0\r\n\u201cBorrowers are already struggling to make ends meet as they graduate with debt that surpasses their annual wages,\u201d Durbin said.\u00a0 \u201cThese borrowers and their families should not have to face additional costs because they cannot resolve errors quickly or gain access to programs meant to help them.\u00a0 My bill will ensure that all borrowers will have access to these basic rights and protections.\u201d\r\n\u00a0\r\nDurbin\u2019s bill provides six basic rights for all federal and private student loan borrowers:\r\n\u00a0\r\n \r\nThe right to have options such as alternative payment plans to avoid default.\r\n \r\n\u00a0\r\n \r\nThe right to be informed about key terms and conditions of the loan and any repayment options to ensure changing plans won\u2019t cost more.\u00a0\r\n \r\n\u00a0\r\n \r\nThe right to know your loan\u2019s servicer and who to reach out to when there is a problem.\r\n \r\n\u00a0\r\n \r\nThe right to consistency when it comes to how monthly payments are applied.\u00a0 Lenders and servicers should also honor promotions and promises that are advertised or offered.\u00a0\u00a0\r\n \r\n\u00a0\r\n \r\nThe right to fairness, like grace periods when loans are transferred or debt cancellation when the borrower dies or becomes disabled.\r\n \r\n\u00a0\r\n \r\nThe right to accountability, including timely resolution of errors and certification of private loans.\r\n \r\n\u00a0\r\nThe bill places a special focus on servicemember and veteran borrowers by requiring loan servicers to provide each borrower with a liaison specifically trained in the benefits available to military borrowers.\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t  \n\n\t\n\t\n\t\n\t\n\t \n\t\t\n\t\t\tPrint\n\t\t\n\t\t\n\t\t\t\n\t\t\tEmail\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\tTweet\n\t\t\t\n\t\t\n\t \n\t\n\t\n\n\t\n    \n   \n    \n    \t\n    \t\n\t    \t  \n\t\t    \n\t\t    \tPrevious Article\n\t\t    \n\t\t    \n\t\t    \tNext Article", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.durbin.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=9b39e962-ea0f-4120-995c-48fcb19106be"], "units": {}, "query_ms": 1.677714753895998, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}