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Student Loans

Thursday, May 10, 2012

House OKs Higher Health Insurance Costs for State Retirees

Here is a wrap-up of some of the latest political news.

State retirees should brace themselves for higher health-care premiums. Illinois House lawmakers voted May 9 to reduce the $800 million annual cost of insurance for retired state workers by making them pay more for health care that some now get for little or nothing. Under the legislation, retired state workers, judges, lawmakers and university employees would have premiums for their group health insurance program set each year by the Quinn administration. The bill went to the Senate on a 74-43 vote. The Chicago Tribune reported that the action unfolded as House Speaker Michael Madigan, D-Chicago, and Minority Leader Tom Cross, R-Oswego, implored colleagues to make the legislation part of a major effort to rein in billions of dollars in …

Thursday, April 5, 2012

Durbin Legislation Would Allow Student Loan Bankruptcy

Here is a wrap-up of some of the latest political news.

U.S. Dick Durbin (D-IL) has introduced legislation that would allow private student loan debt to be discharged in bankruptcy. The bill does not include federal student loans. This may be a boon to some senior citizens who are more concerned about having money for student loans rather than for golf or cruises. These senior citizens are still paying their college loans; others are paying costs incurred when they returned to college later in life; and others are strapped with loans they co-signed for their children who cannot, in this job market, afford to pay their loans. The Washington Post reported that new research from the Federal Reserve Bank of New York shows that Americans 60 and older still owe about $36 billion in student loans, …

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