SR1525 99TH GENERAL ASSEMBLY

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SENATE RESOLUTION

WHEREAS, The economic competitiveness of the United States and Illinois in the global economy requires a well-educated workforce; and

WHEREAS, Students in Illinois currently average $28,984 in student debt upon graduation, which significantly hinders their ability to participate in the local economy; and

WHEREAS, Current and future young people in the United States and across Illinois should have the same opportunity offered to those who went to college in previous generations, including the ability to attend State colleges and universities without taking on burdensome debt; and

WHEREAS, In 2015, higher education is more important than ever because it is an essential step to entering and remaining in the middle class; and

WHEREAS, Because of the importance of higher education, the United States and state governments should expand the opportunity to pursue and attain higher education to more people than had that opportunity in the past; and

WHEREAS, Public investment in higher education pays off, as evidenced by the fact the G.I. Bill resulted in a 7-to-1 return on investment for our national economy; workers with college degrees also earn more money, pay more taxes, and rely less on government services; and

WHEREAS, Student loan debt saddles the very students who most depend on a college degree to level the economic playing field with a burden that constrains career choices and hurts the credit rating of students, prevents people from fully participating in the economy by purchasing goods and services, and threatens essential milestones of the American dream, including the purchase of a home or car, starting a family, and saving for retirement; and

WHEREAS, The Schatz-Schumer-Warren United States Senate debt-free college resolution and the Grijalva-Ellison-Clark United States House of Representatives debt-free college resolution have gained national momentum in recent months and has become central in the national dialogue around higher education; and

WHEREAS, A national goal of debt-free college would include significant federal aid to states, including Illinois; therefore, be it

RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to enact legislation that ensures that all students have access to debt-free higher education, defined to mean having no debt upon graduation from any public institutions of higher education; increases support to states so that those states can increase investments in higher education and bring down costs for students; increases aid to students to help them cover the total cost of college attendance without taking on debt; encourages innovation by states and institutions of higher education to increase efficiency, lower costs, and enable speedy and less-costly degree completion; and reduces the burden of existing student loan debt.