WHITE PLAINS CITIZENETREPORTER SETS RECORD VISITS FOR YEAR 7,017,658 VISITS! 2,098,003 VISITORS MADE 6 VISITS A DAY EVERY DAY. 63,330 UNIQUE VISITORS MADE 133,730 VISITS IN DECEMBER. WPCNR AVERAGED 17,284 VISITORS A WEEK, VISITING 31,270 TIMES.

Hits: 201

WPCNR FBI WIRE. Special to WPCNR from the Federal Bureau of Investigation. May 19, 2014:

Preet Bharara, the United States Attorney for the Southern District of New York, and George Venizelos, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (FBI), announced today the unsealing of an indictment charging Alex Yücel, the owner of an organization known as Blackshades, that, since 2010, has sold and distributed to thousands of people in more than 100 countries a sophisticated and pernicious form of malicious software, or malware, known as the Blackshades remote access tool, or RAT.

The RAT was co-created by Yücel and has been used to infect computers throughout the world to spy on victims through their web cameras, steal files and account information, and log victims’ key strokes.

Also unsealed today were criminal complaints against Brendan Johnston, who was paid by Blackshades to help market and sell malware, including the RAT, and provide technical assistance to its users; Kyle Fedorek, who purchased the RAT and used it to steal online account information from hundreds of victims; and Marel Rappa, who purchased the RAT and used it to spy on dozens of victims and steal online account information.

Yücel was arrested in Moldova in November 2013 and is pending extradition to the United States. Johnston was arrested yesterday in Thousand Oaks, California, and will be presented today in the Central District of California.

Fedorek and Rappa were arrested at their residences this morning and will be presented later today before United States Magistrate Judge James L. Cott in Manhattan federal court.

Michael Hogue, the co-creator of the RAT, was arrested in June 2012 as part of the government’s investigation known as Operation Cardshop and subsequently pled guilty before U.S. District Judge Kevin Castel in January 2013. A transcript of his guilty plea was unsealed this morning.

In addition to the criminal charges, a domain name associated with the Blackshades website was seized pursuant to a seizure warrant obtained in Manhattan federal court.

Manhattan U.S. Attorney Preet Bharara said,

“Blackshades’ flagship product was a sophisticated program known as the remote access tool, or RAT for short. The RAT is inexpensive and simple to use, but its capabilities are sophisticated and its invasiveness breathtaking. As today’s case makes clear, we now live in a world where, for just $40, a cybercriminal halfway across the globe can—with just a click of a mouse—unleash a RAT that can spread a computer plague not only on someone’s property but also on their privacy and most personal spaces.”

Assistant Director in Charge of the FBI George Venizelos said,

“Armed with $40 and a computer, an individual could easily get the Blackshades remote access tool and become a perpetrator. It required no sophisticated hacking experience or expensive equipment. This tool was purchased by thousands of people in more than 100 countries. The charges unsealed today showcase the top to bottom approach the FBI takes to its cases. We tackled this malware starting with those that put it in the hands of the users, the creators, and those who helped make it readily available, the administrators. We will continue to work with our law enforcement partners to bring to justice anyone who used Blackshades maliciously.”

According to the allegations contained in the indictment and criminal complaints unsealed today in Manhattan federal court:

Overview

Since at least 2010, an organization known as Blackshades has sold and distributed malicious software to thousands of cybercriminals throughout the world. Blackshades’ flagship product was the Blackshades remote access tool, or RAT, a sophisticated piece of malware that enabled cybercriminals to secretly and remotely gain control over a victim’s computer.

After installing the RAT on a victim’s computer, a user of the RAT had free rein to, among other things, access and view documents, photographs and other files on the victim’s computer, record all the keystrokes entered on the victim’s keyboard, steal the passwords to the victim’s online accounts, and even activate the victim’s web camera to spy on the victim—all of which could be done without the victim’s knowledge. The FBI’s investigation has shown that the RAT was purchased by at least several thousand users in more than 100 countries and used to infect more than half a million computers worldwide.

Purchasing and Installing the Blackshades RAT

The RAT was typically advertised on forums for computer hackers and marketed as a product that conveniently combined the features of several different types of hacking tools. Copies of the Blackshades RAT were available for sale, typically for $40 each, on a website maintained by Blackshades.

After purchasing a copy of the RAT, a user had to install the RAT on a victim’s computer—i.e., “infect” a victim’s computer. The infection of a victim’s computer could be accomplished in several ways, including by tricking victims into clicking on malicious links or by hiring others to install the RAT on victims’ computers.

The RAT contained tools known as “spreaders” that helped users of the RAT maximize the number of infections.

The spreader tools generally worked by using computers that had already been infected to help spread the RAT further to other computers. For instance, in order to lure additional victims to click on malicious links that would install the RAT on their computers, the RAT allowed cybercriminals to send those malicious links to others via the initial victim’s social media service, making it appear as if the message had come from the initial victim.

For example, a RAT user could send an instant message, or IM, to potential victims that appeared to come from the initial victim, inviting them to click on a link that appeared to lead to a legitimate website but that in reality would install the RAT on the potential victim’s computer.

The Capabilities of the RAT

The RAT featured a graphical user interface, which allowed its users to easily view and navigate all of the victim computers that they had infected.

Among other things, the user interface listed IP address information for each infected computer, the computer’s name, the computer’s operating system, the country in which the computer was located, and whether the computer had a web camera.

Once a computer was infected with the RAT, the user of the RAT had complete control over the computer. The user could, among other things, remotely activate the victim’s web camera. In this way, the user could spy on anyone within view of the victim’s webcam inside the victim’s home or in any other private spaces where the victim’s computer was used.

The RAT also contained a keylogger feature that allowed users to record each key that victims typed on their computer keyboards. To help users steal a victim’s passwords and other login credentials, the RAT also had a “form grabber” feature. The form grabber automatically captured login information that victims entered into forms on their infected computers (e.g., login screens or order purchase screens for online accounts).

The RAT also provided its users with complete access to all of the files contained on a victim’s computer. A RAT user could use such access to view or download photographs, documents, or other files on a victim’s computer. Further, using a tool known as file hijacker, the RAT enabled users to encrypt, or lock, a victim’s files and demand a “ransom” payment to unlock them. The RAT even came with a prepared script demanding such a ransom.

The RAT also allowed users to exploit victims’ computers to launch other cyber attacks. Infected computers could be gathered into a network and used to launch Distributed Denial of Service (DDoS) attacks against particular websites by repeatedly sending requests to the website in an effort to disable the website and deny service to legitimate customers.

Yücel and the Blackshades Organization

Yücel was the co-creator of the RAT and owned and operated the Blackshades organization. Yücel employed several paid administrators, including a director of marketing, website developer, customer service manager, and a team of customer service representatives; he hired and fired employees, paid employees’ salaries, and updated the malicious software in response to customers’ comments and requests. Blackshades generated sales of more than $350,000 between September 2010 and April 2014.

The Other Defendants

Johnston used Blackshades malware and was a paid employee of the Blackshades organization who, among other things, marketed and sold the RAT and provided technical assistance to users of the RAT to assist them in infecting and remotely controlling victims’ computers with the RAT. In certain online postings, Johnston described himself as an “authorized seller” and “admin,” or administrator, of Blackshades.

Fedorek was a customer of Blackshades who purchased the RAT and used it to steal financial and other account information from more than 400 victims. A search of Fedorek’s computer conducted by the FBI showed that Fedorek was also deploying a variety of other types of malicious software against his victims.

Rappa was a customer of Blackshades who purchased the RAT and used it to infect victims’ computers, spy on those victims using their web cameras, and steal personal files from their computers. A search of Rappa’s computer by the FBI showed that Rappa was also deploying a variety of other types of malicious software against his victims.

* * *

Yücel, 24, of Sweden, is charged with two counts of computer hacking, each of which carries a maximum sentence of 10 years in prison; one count of conspiring to commit access device fraud, which carries a maximum sentence of seven-and-a-half years in prison; one count of access device fraud, which carries a maximum sentence of 15 years in prison; and one count of aggravated identity theft, which carries a mandatory term of two years in prison consecutive to any other sentence that is imposed.

Johnston, 23, of Thousand Oaks, California, is charged with two counts of computer hacking, each of which carries a maximum sentence of 10 years in prison.

Fedorek, 26, of Stony Point, New York, is charged with two counts of computer hacking, each of which carries a maximum sentence of 10 years in prison, and one count of access device fraud, which carries a maximum sentence of 10 years in prison.

Rappa, 41, of Middletown Township, New Jersey, is charged with two counts of computer hacking, each of which carries a maximum sentence of 10 years in prison.

Hogue, 23, of Maricopa, Arizona, pled guilty in January 2013 to two counts of computer hacking, each of which carries a maximum sentence of 10 years in prison. He is awaiting sentencing before the Honorable P. Kevin Castel.

The maximum potential sentences are prescribed by Congress and are provided here for informational purposes only, as any sentencings of the defendants will be determined by the judge.

The charges unsealed today are part of an unprecedented global law enforcement operation involving the participation of 19 countries. As part of the operation, more than 90 arrests have been made and more than 300 searches have been conducted worldwide. Mr. Bharara noted that the investigation is ongoing.

Mr. Bharara praised the extraordinary investigative work of the FBI. Additionally, Mr. Bharara specially thanked all the international law enforcement agencies that assisted this investigation, including the Moldova National Investigation Inspectorate of General Police Inspectorate of Ministry of Interior; the International Relations Department of Prosecutor’s General Office of the Republic of Moldova; Eurojust; the U.S. Department of State’s Diplomatic Security Service and United States Embassy personnel in Chisinau, Moldova; the FBI’s Office of the Legal Attaché to Romania and Moldova; and the FBI’s Office of the Legal Attaché to the Netherlands. He also thanked the Department of Justice’s Office of International Affairs and Computer Crime and Intellectual Property Section for their support.

The case is being prosecuted by the Office’s Complex Frauds and Cybercrime Unit. Assistant U.S. Attorneys James Pastore and Sarah Lai are charge of the prosecution. Assistant U.S. Attorney Paul Monteleoni with the Money Laundering and Asset Forfeiture Unit is in charge of forfeiture aspects of the case.

The charges contained in the indictment and complaints are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

Hits: 534

WPCNR STAGE DOOR. Theatrical Review by John F. Bailey. May 19, 2014:

High strung Nick Piacente playing Justin has landed a new job at Quail Valley Country Club

Susan Sloteroff as Louise, prepares to lineup a crucial putt for all the marbles at the best indoor golf tournament you’ll ever see in the new The Fox on the Fairway which debuted this weekend at White Plains Performing Arts Center Photographs, courtesy WPPAC

He can now marry crazy redhead waitress sweetheart,  Louise, played by manic, emotive, over-the-top excitable girl, funniest actress I have seen on stage in some time: Susan Slotoroff. Justin gives his mother’s engagement ring to her. The two go crazy on each other  on the sofa in the middle of the Quail Valley Country Club Tap Room.

But wait!

The big tournament between Quail Valley  and arch rival, Crouching Squirrel Golf and Racquet Club, run by the “evil” Dickie played deliciously devilishly by Cordell Stahl whose golf fashions spoof the obsession for  looking good on a course is coming up.

Jorge Acosta as Bingham, catching Justin (the rubber mugged, athletic, wild man Nick Piacente ) in an awkward moment.

The young lovers  are steaming up the couch, and  are caught clinched by the shocked President of the Club, Mr. Bingham, played with bluster, blabber and pomposity by Jorge Acosta who is outraged. The steamed-up couple cowers behind the leather cushions, the audience’s collective jaws drop and incredulous laughter peels forth, eager for whatever comes next  in this wild-tee-shot-down-the-fairway-slicing-hooking-delighting-quipping-after-quip-bouncing-after-bounce-and-in-the-hole comedy!

It’s that way throughout the evening in White Plains Performing Arts Center’s newest production, The Fox on the Fairway

The stage is set for this outlandish farce of the snooty world of golf, penned in 2010 by 2-time Olivier Award winner Kenneth Ludwig who describes Fox as a homage to the farces of the late 19^th and early 20th centuries. He notes he wrote it–

“as a reminder of the values the (farce) tradition embodies, things like innocence, humor, good sportsmanship and honor. My hope is that it is still possible to come together in a darkened theater and embrace these values with a sense of joy.”

There’s lot of joy on the golf course in this creatively staged, outlandishly plotted play spoofing  the testosterone of rival golfers, snobbish  country clubs and the foibles of man-woman relationships consummated, longed-for, regretted, hoped for, never-forgotten. Yes, those in search in lust for pure laughter without a message, this is the show for you!

The  on-again off-again sweet hearts Mr. Piacente and Ms. Slotoroff fling themselves about in breathtaking bounces off furniture and bars, chase each other, fight and lose their emotions in over-the-top style not seen since Sid Ceasar and Imogene Coca.  From losing her engagement ring down a toilet and trying to hide it from Justin to Justin saying he would not trust her with his car. It’s the fragile emotions that romance has to negotiate exaggerated to laugh-out-loud max.

But the future is not only rocky for the lovers, it’s rocky for the club.

Dickie, played with “Snidely Whiplash” villainous glee by by the sartorially splendid Cordell Stahl, scheming Crouching Squirrel club owner, has spirited away Quail Valley’s top golfer to steal the upcoming club tournament clash.

 Acosta, as  Quail Valley Club Pres,  summons up all his  pompous pride and testosterone, bets Dickie $200,000 plus ownership of  the Quail Valley club and his wife Muriel’s antique shop his club will win the tournament.

Confused? Bewildered? Incredulous? It’s the good stuff , over-the-top, forget-your-troubles farce is made of! You’ll never get upset with a golf shot again after you see this baby.

Well, turns out Justin is so ecstatic Louise has agreed to marry him that Quail Valley Pres spots him booming drive after drive down the fairway with the help of trim, worldly wise, no-nonsense club executrix, played with sophisticated practicality by Amanda Renee Baker as Pamela, he realizes Justin can salvage the tournament.

Realistic “Golf Channel quality” club tournament  announcements played flawlessly over the sound system,uniquely create the tournament progress. The audience is treated to the Tiger Woods perfection  of Justin, who winds up leading the tournament after 17 holes. It’s the most exciting tournament you never see thanks to the sound effects.

But hold on! Louise is mad at Justin. And he falls to pieces on the 17^th hole as rain stops the tournament.

Confusing?

Dickie (Cordell Stahl) and Muriel ( Marianne Matthews) rekindle their long lost affection at the Country Club Tournament formal.

Wait until Act II.

Bingham’s wife, Muriel comes on to the scene furious her antique shop is hanging in the balance with Justin a basket case over Louise’s refusing to marry him. Pamela reveals her love for Bingham, and Dickie, sporting an ever changing golf wardrobe that will make any golf togs aficionado’s mouth water, rekindles his old love for Muriel played with a Bronx accent to die for by  Marianne Matthews.

Amanda Renee Baker as Pamela, plots devilishly with Jorge Acosta as Quail Valley Club President on how they will convince Justin to play the final hole….and suprisingly find they have a lot in common…reminiscing leads to what do you think?

The slapstick bits are just too funny. Though we’re sophisticated Westchesteronistas who would never think about laughing at vaudeville bits 100 years old, you’ll laugh at these tried and true bits:

The madcap cast in total chaos,  throws around Muriel’s  Ming vase around the tap room—a scene right out of Noel Coward’s Blithe Spirit; there’s a mad chase of Nick trying to convince Louise to come back to him. It’s mirthful  mayhem on White Plains Main Street

Then Nick with one hole to play breaks his arm. Who can save the Quail Valley Country Club?

Pamela, ( Amanda Renee Baker) Club Treasurer, (a delightful partner in crime with Bingham(Acosta) Convince Louise to play one for the Quail Valley club.

Can Louise, who is a fair golfer herself, save the Quail Ridge, and how come her birthmarks are the same as Pamela, the club Treasurer? What is going on here?

You even get the high drama of one last dramatic putt by Louise.

It’s a  90 footer with a double break, will it go in? The staging of the final putt of the tournament is fabulously choreographed, as every twist and break has the audience on the edge of their seats, as the whispering voice of the tournament announcer delivers every nuance of the long twisting roll.

Does it go in?

You’ll have to be in the gallery in either of the next two weekends of performances to find out the answer.

Does everybody get together in the great tradition of The Importance of Being Ernest and  Noel Coward’s Private Lives?

Jeremy Quinn, Artistic Director and director of this show has nailed the timing down of all the performers who work together—time their lines perfectly. The bodies are flying around the big stage in a complexity of motion that glazes the audience’s eyes and keeps the laughs on coming .

The set by Dana Kenn is old Tamarack Country Club out of  Twisted Foot. Duffers and scratch golfers will feel right at home. Sound effects by  William Neal use bull horns, feedback, and filtered crowd noise of clapping and crowd reactions, are intricate,  realistic ,precise and the sounds are just as much actors as the comic virtuosos capering on the stage. Quinn has mixed all the many tools White Plains Performing Arts Center offers the director to  send up golf in not a mean way but a bizarrely reverent way – the essence of farce.

Call White Plains Performing Arts Center at 914-328-1600 for tickets in the no-bad-seat gallery:  May 22,23,24,25, May 29,30, 31,June 1. Or go to the WPPAC website, www.wppac.com

The Fox on the Fairway the most fun you will have on a golf course this year any year

Hits: 253

THE OBAMA REPORT

PETER KATZ

FORMER ABC WHITE HOUSE CORRESPONDENT

COVERS

THE PRESIDENTIAL VISIT TO THE TAPPAN ZEE BRIDGE

ON THE NET AT

www.whiteplainsweek.com

(Copy link and paste into your browser)

WESTCHESTER’S MOST COMPREHENSIVE AND COMPLETE NEWS PROGRAM

FOR 13 YEARS

WHITE PLAINS WEEK

Anchor for all Seasons, Peter Katz, John Bailey, CitizeNetReporter, and the Dean of White Plains Journalism, Jim Benerofe

PLUS THE BIG THREE ON

THE COUNTY PLAYLAND REVIEW COMMITTEE CHOKES ON

 SUSTAINABLE PLAYLAND LIABILITY “PROMISE”

THE BREAKDOWN OF THE WHITE PLAINS SCHOOL BUDGET

THE OPENING OF THE WORLD TRADE CENTER MUSEUM

THE FOUNTAIN IMPASSE AT RENAISSANCE SQUARE

CAMBRIA SUITES TAKE SHAPE ON MAIN

AND

HAPPY BIRTHDAY,

JIM BENEROFE

Hits: 149

The vintage Dragon Coaster Rolls Again. Westchester County Recreation and Parks Commissioner Peter Tartaglia said “The Dragon” was very popular on Opening Weekend.

WPCNR PLAYLAND-GO-ROUND.  May 14, 2014:

The Westchester County Commissioner of Recreation and Parks reported to WPCNR that Playland Opening Weekend drew 5,500 admissions Saturday, despite threatening weather. On Mother’s Day, Sunday, the park drew 5,000 persons, Commissioner Peter Tartaglia said.

Tartaglia said that when a thunderstorm rolled through the park on Saturday many Playlanders took shelter and lingered, with many waiting out the short-lived cloudburst.

Tartaglia said all rides were open at the park and attractions were fully staffed. He said the park is employing 500 persons, and interviews to hire are still going on.

A reduced admission price of $15 a person for all day rides in effect for opening weekend and through June,  perhaps was a factor, he said. He also credited the promotion of  free ride admission for mothers on Mothers Sunday will be repeated for fathers on Sunday, June 15, Fathers Day.

Playland opens at noon Saturday. Same low prices:

$15 May Days! May 10,11, 17, 18 and 23 (Cannot be combined with other discounts)
$30	Rides*
$20	Junior*	Under 48″
FREE	Child 2 years old and under	Riding with a ride paying adult meeting ride height requirements and safety restrictions
$10	Spectator	Non-Resident (No Rides)
FREE	Spectator	Resident (No Rides)
$1 per point	Fun Card (Requires Spectator Admission)	(Rides are 5-6 points each)
* Westchester residents receive $5 Discount Prices are subject to change & do not apply to special event concerts.
Active duty military personnel Special Admissions: Please click here.
Did You Know… • Band not required for park entry for child 2 years old and under. • For Resident Discount present: Credit Card with ZIP Code verification, NYS Photo ID or driver’s license, County Park Pass, school photo ID or report card. • Height Line Charts available at Fountain Plaza and in Park (complete Park Rules and Information.) • Metro Cards are available for purchase, CASH ONLY • Visits Are Weatherproof!  If we close due to weather, we’ll credit rider bands only to come back this season. Some rides may not operate due to weather conditions.

Hits: 112

WPCNR CAPITOL WIRE. From NY Senator Kirsten Gillebrand. May 13, 2014:

With New York graduates saddled with student loan debt, U.S. Senator Kirsten Gillibrand, joined by Anne Johnson from Generation Progress, will hold a conference call TODAY, Tuesday, May 12 at 12:30PM on legislation she is pushing to help tens of millions of graduates refinance their federal student loans.

National student loan debt is at approximately $1.2 trillion, surpassing auto loan and credit card debt, and New Yorkers face sky-high student debt at an average of more than $27,000 per graduate.

Senator Gillibrand’s legislation would reduce student debt on federal loans by allowing millions of graduates and borrowers currently repaying their federal student loans the ability to refinance at a lower interest rate.

Senator Gillibrand’s proposal to allow graduates to refinance their loans at a lower interest rate just like businesses and homeowners are doing on a daily basis was included in the Bank on Students Emergency Loan Refinancing Act legislation introduced by Senator Elizabeth Warren last week.

“While a higher education remains the clearest path into the middle class, more of our graduates and middle class families are burdened by student loans than ever before and are struggling to repay a higher amount of debt than ever before,” said Senator Gillibrand. “This high amount of student debt is dragging down our economy, stopping graduates from buying homes and cars, or starting businesses and families. The solution is right in front us- our graduates should be able to refinance their debt in the same way that our businesses and homeowners do. This will help to strengthen our middle class families instead of forcing us deeper into debt. When we price young people out of a college education we all pay a price. We can’t afford any more delay.”

“Student debt is taking a toll on our economy, and borrowers are struggling to get by,” said Anne Johnson, Executive Director of Generation Progress. “The ability to refinance student loans would give borrowers a fair shot in this economy.  As we saw last year, lowering interest rates is a bipartisan policy, and borrowers would save billions in interest payments each year.  Student loan borrowers should be able to refinance their loans—just like homeowners, corporations, and even state and local governments.”

“The cost of a college education in New York State has been on the rise for years now,” said Queens College student and NYPIRG Chairperson Aileen Sheil. “Unfortunately, skyrocketing tuition also means skyrocketing student loan debt. Senator Gillibrand’s refinance initiative will go a long way to help ease the financial burden of those with student debt.”

Graduates are facing a tougher time repaying their college loans as student debt nearly tripled since 2004, with New York graduates facing an average debt of $27,310 in 2012, according to the Federal Reserve Bank of New York. Over the past several years, more young borrowers have fallen further behind on their student loan payments.

Nationwide, almost 12 percent of all student debt was delinquent by the end of last year, up from 7.6 percent in 2008, according to the Federal Reserve Bank of New York.

Statewide, nearly 11 percent of New York graduates, or 24,800 borrowers, defaulted on their student loans between 2009 and 2012, or were more than nine months behind on their payments, per the Department of Education. Senator Gillibrand is pushing for legislation that will help provide relief to graduates currently in repayment.

In New York City, an estimated 11.5% of student loan holders have balances 90+ days delinquent, and 1.46 million residents aged 18-34, or 64% have some sort of post high school education.

In Western New York, an estimated 12.8% of student loan holders have balances 90+ days delinquent, and over 200,000 residents aged 18-34, or 59% have some sort of post high school education.

In the Rochester-Finger Lakes Region, an estimated 10.7 % of student loan holders have balances 90+ days delinquent, and over 240,000 residents aged 18-34, or 62% have some sort of post high school education.

In Central New York, an estimated 8.1% of student loan holders have balances 90+ days delinquent, and over 160,000 residents aged 18-34, or 62% have some sort of post high school education.

In the Southern Tier, an estimated 16.3% of student loan holders have balances 90+ days delinquent, and nearly 70,000 residents aged 18-34, or 54% have some sort of post high school education.

In the Capital Region, an estimated 9.6% of student loan holders have balances 90+ days delinquent, and over 160,000 residents aged 18-34, or 57% have some sort of post high school education.

In the North Country, an estimated 8% of student loan holders have balances 90+ days delinquent, and over 52,000 residents aged 18-34, or 52% have some sort of post high school education.

In the Hudson Valley, an estimated 7.3% of student loan holders have balances 90+ days delinquent, and over 260,000 residents aged 18-34, or 61% have some sort of post high school education.

On Long Island, an estimated 8.1% of student loan holders have balances 90+ days delinquent, and over 365,000 residents aged 18-34, or 67% have some sort of post high school education.

To address the burden faced by graduates struggling to repay their federal student loans, Senator Kirsten Gillibrand joined 15 of her colleagues in pushing for passage of the Bank on Students Emergency Loan Refinancing Act, which includes Gillibrand’s proposal to allow those with outstanding federal student loan debt to refinance at lower interest rates.

Many borrowers with outstanding student loans have interest rates of nearly 7 percent or higher for undergraduate loans, while students taking out new undergraduate loans pay a rate of 3.86 percent under the Bipartisan Student Loan Certainty Act passed by Congress last summer.

According to a Congressional Budget Office report, the federal government makes 36 cents in profit on every student-loan dollar it puts out, and estimates that student loans will bring in $34 billion this year alone.

A Center for American Progress report reveals that refinancing just federal loans, to 4 percent, would increase disposable income nationwide by an estimated $14.5 billion in the first year alone. Interest rates are at historic lows, with homeowners, corporations and localities refinancing their debts. However, students and families who take out loans to pay for higher education are getting left behind in the refinancing boom. Senator Gillibrand’s legislation would provide these graduates with a six month window to reduce their rates on all federally-owned student loans.

The legislation is co-sponsored by Senators Barbara Boxer (D-CA), Richard Durbin (D-IL), Jack Reed (D-RI),  Mary Landrieu (D-LA), Debbie Stabenow (D-MI), Tom Udall (D-NM), Jeanne Shaheen (D-NH), Mark Begich (D-AK), Al Franken (D-MN), Richard Blumenthal (D-CT), Brian Schatz (D-HI), Tammy Baldwin (D-WI), Mazie Hirono (D-HI), Ed Markey (D-MA), and Cory Booker (D-MA). A companion bill is being introduced today in the U.S. House of Representatives by Representatives John Tierney (D-Mass.) and George Miller (D-Calif.), the senior Democrat on the House Committee on Education and the Workforce.