As students and recent graduates continue to face rising costs, a measure to lower student loan interest rates sponsored by state Rep. Eva-Dina Delgado, D-Chicago, was signed into law last Friday. The bill combines student loan interests into a lower, fixed rate by empowering the State Treasurer to refinance student loans.  “As the federal government makes it harder than ever for college students to become debt free, here in Illinois we are making every effort possible to lower student loan debt and set college graduates on a path to a freer financial future,” Delgado said. “My measure to consolidate student loans of varying interest rates and levels into a fixed, lower rate will not only make it easier for our students to track how many loans they have but also will lower their overall financial burden considerably.” Delgado passed House Bill 1430 which authorizes the State Treasurer to use the Student Investment Account to refinance student loans. When refinancing an individual’s multiple student loans, an individual can consolidate their multiple loans into one loan with one lower interest rate, empowering borrowers to lower their debt and achieve financial independence quicker.  For more information on Delgado’s legislative achievements, visit ILGA.gov.