U.S. Senator Dick Durbin hosted a conference featuring the leading export officials in the Obama Administration on April 5 in Chicago to highlight government resources available to Illinois businesses interested in starting to export or in expanding sales into new markets.
Durbin held a news conference to discuss the far-reaching overhaul of federal financial aid included in the Reconciliation Act signed into law by the President yesterday. The legislation pushes commercial banks out of the federal student loan market, adds $36 billion to the Pell Grant program, increases the maximum Pell Grant amount, and helps low income college graduates pay back student loans by accelerating loan forgiveness and capping payments. On average, Illinois students graduate with more than $20,000 in student loan debt. In Illinois, there are approximately 265,000 Pell Grant recipients.