The Consumer Financial Protection Bureau's proposal draft aimsRead more
to help payday loan borrowers remain in control of their money
New Chicago region foreclosure data showsRead more
double-digit declines in foreclosure filings and auctions
The report focuses on some of the big issues— vacant andRead more
foreclosed properties, retirement savings, and consumer protection—that
have been key to Woodstock Institute's mission and recent work.
2015 Community Investment Awards
Illinois Attorney General Lisa Madigan and Senator Dick Durbin are taking a stand for student loan borrowers by urging the federal government to forgive the federal student loans of Corinthian Colleges students. Student loans are often regarded as “good debt”: they help consumers build their assets by giving them access to more prestigious and higher-paying jobs. However, an unwelcoming job market has left student loan borrowers with fewer job options and thus fewer opportunities to pay back their debt. One of the populations that was the hit the hardest is for-profit college students. Woodstock Institute research shows that for-profit college students are graduating with more debt and fewer job opportunities than their peers.
Most Illinois residents know that the state is billions of dollars in debt and has fallen behind on funding its pension obligations. Gov. Bruce Rauner has proposed severe cuts to the fiscal year 2016 (FY16) budget to remedy this situation. However, the Governor’s proposals have focused on cutting the budgets of Illinois human services, including services for affordable housing, homeless youth, and supportive housing. These cuts hurt the state’s most vulnerable citizens by taking vital resources away from those that need them the most.
Higher education has long been one of the keys to attaining the American Dream; however, skyrocketing student debt has turned the dream into a nightmare for many in our country. With challenges ranging from deficient student loan servicing to predatory for-profit colleges, millions of borrowers need help as they struggle to pay off their loans. Rohit Chopra, the Consumer Financial Protection Bureau’s (CFPB) Student Loan Ombudsman, stands out as a leader in student debt reform.