U.S. Senator Dick Durbin, D-Illinois, spoke to NIU President Doug Baker, students and alumni about legislation regarding student loan interest rates Friday.

Durbin co-sponsored a bill with U.S. Senator Elizabeth Warren, D-Massachusetts, called the Bank on Students Emergency Loan Refinancing Act, which allows holders of loans with higher interest rates to refinance to the lower rate.

“Student debt has reached the breaking point in this country,” Durbin said, according to a news release by his office. “Far too many young people are looking at a lifetime of debt just because they wanted to do the right thing and get a college degree.”

The Senate is expected to vote on the bill in its first week back in session beginning on Monday.