Make Higher Education Affordable

U.S. PIRG Higher Education Director Chris Lindstrom calling on Congress not to double the student loan interest rate.

Student Debt Is Skyrocketing

Higher education in America continues to be critical for both individual success and the social and economic health of our country. While college attendance has grown over the past two decades, state appropriations and federal aid have failed to keep pace with the rising cost of college, shifting more costs to students. As a result, more students than ever must rely on student loans to pay for a college degree, with the average borrower now graduating with over $26,000 in loan debt.  

Heavy student loan debt carries negative consequences for borrowers, who must make monthly payments with their hard-earned dollars rather than save up and get ahead. High debt can affect where graduates live, the kind of careers they pursue, when they start a family or purchase a home, and whether they can save for retirement. The combination of high student debt and low earnings can lead to default, ruined credit and wage garnishment. Such distress runs counter to the goal of higher education.

The U.S. PIRG Higher Education Project is working to:

1. Keep loans affordable: This July, interest rates will double on the subsidized Stafford loans that almost 8 million students use to pay for school. U.S. PIRG is campaigning to prevent interest rates from doubling and advocating for more and better repayment options once a student graduates. 

2. Increase grant aid to students, such as the Pell Grant: The Pell Grant is the federal government's cornerstone financial aid program, providing scholarship aid to almost 10 million students of modest income each year. U.S. PIRG is making sure that every student can rely on their grant to stay in school and make it to graduation.

3. Make textbooks affordable: Textbook prices are rising four times faster than inflation, leaving the average student now paying over $1,100 every year for textbooks. After working to end many tricks the publishing industry used to increase prices unfairly, U.S. PIRG is fostering real competition in the textbook market place by promoting more affordable options like open textbooks and open education resources.

Issue updates

Media Hit | Higher Ed

New York Times: On Campus, New Deals With Banks

“Campus debit cards are wolves in sheep’s clothing,” Rich Williams, higher education advocate for U.S. Public Interest Research Group Education Fund and lead author of the report, said in releasing the report. “Students think they can access their dollars freely, but instead their aid is being eaten up in fees.”

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Report | U.S. PIRG Education Fund | Consumer Protection, Higher Ed

The Campus Debit Card Trap

Banks and other financial firms are taking advantage of a variety of opportunities to form partnerships with colleges and universities to produce campus student ID cards and to offer student aid disbursements on debit or prepaid cards. In addition to on-campus services, such as student ID functions offered on the card, some cards offer traditional debit card services linked to bank accounts; other cards provide additional reloadable prepaid card functions. The disbursement of financial aid and university refunds is the most significant partnership identified.

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News Release | U.S. PIRG | Higher Ed

BANKS SKIM MILLIONS IN FEES FROM STUDENT AID USING DEBIT-CARD-LINKED STUDENT IDS

Washington, D.C. – Over 9 million students are at risk for increased educational debt, due to bank-affiliated student debit cards that come with high fees, insufficient consumer protections, and few options.  Financial institutions now have affinity partnerships with almost 900 campuses nationwide, grafting bank products onto student IDs and other campus cards to become the primary recipient of billions in federal financial aid to distribute to students.

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News Release | U.S. PIRG | Higher Ed

There is no 'A' for effort

"It seems safe to say that the more than seven million students who will be taking out Stafford student loans for the next school year, join our disappointment that today the Senate could not pass a bill to keep interest rates from doubling on July 1.  

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News Release | U.S. PIRG | Higher Ed

Senators Block Bill to Keep Student Loan Interest Rates from Doubling on July 1

 [WASHINGTON, D.C.] – “We are deeply disappointed that Senators blocked a bill to keep the interest rates on Stafford student loans from doubling. 

“Recently, student loan debt surpassed $1 trillion – even greater than total credit card debt.  

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News Release | U.S. PIRG Education Fund | Higher Ed

Department of Education Rule to Rein in Abuse at For-Profit Colleges Doesn’t Go Far Enough

Yesterday, the US Department of Education took the first step in reining in abusive practices at for-profit colleges which pile deep debt onto their students in exchange for questionable credentials.  It issued a new rule that sets a standard for these schools: their programs have to ensure graduates can earn enough to pay off the hefty student loans they must carry to pay for their enrollment.

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News Release | U.S. PIRG | Higher Ed

New in The Huffington Post: Ryan's Budget Is A Wolf In Sheep's Clothing, Preying On Student Aid

Chairman Ryan's budget is a wolf in sheep's clothing. Preying upon genuine concern for our fiscal future, this budget takes direct aim at student aid programs that help job-seekers get the skills, training, and credentials they need to re-enter the recovering workforce.

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News Release

USPIRG and student leaders urge President to commit to open access

News Release | U.S. PIRG

The U.S. House of Representatives passed the bipartisan FUTURE Act today, which permanently funds historically black colleges and universities and other minority-serving institutions, and streamlines financial aid.

News Release | U.S. PIRG Education Fund

College is expensive, requiring many students to take out significant loans to afford an education. On top of that, students have to deal with the additional costs of textbooks, computers and other critical supplies. As students head back to school -- or to school for the first time -- U.S. PIRG Education Fund is releasing a money-saving guide to help them cut those additional costs.

News Release

U.S. PIRG and partners submit letters to DOJ opposing Cengage - McGraw Hill merger

News Release

Dozens of student governments and organizations urge DOJ to block the Cengage - McGraw Hill merger

Higher Ed

Accessing federal student aid is about to get easier

On Dec. 10, the U.S. House of Representatives passed the bipartisan FUTURE Act, which will streamline financial aid—by allowing the Internal Revenue Service and the Department of Education to share data that will shorten the Free Application for Federal Student Aid (FAFSA).

 
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