Make Higher Education Affordable

Travel Buddy 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 Travel Buddy 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. Travel Buddy 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. Travel Buddy 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, Travel Buddy is fostering real competition in the textbook market place by promoting more affordable options like open textbooks and open education resources.

Issue updates

News Post | Food, Higher Ed

Travel Buddy Zero Hunger Campaign: Fall Semester in Review

U.S.PIRG believes that no one should go hungry when we produce more than enough food already to feed everyone, and waste 40% of it. So, together with dozens of campuses with student PIRG chapters around the country we launched our Zero Hunger campaign last year to end hunger. 

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News Post | Higher Ed

LibreTexts wins inaugural Open Textbook Pilot grant | Kaitlyn Vitez

Big news (and savings) for students.

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Report | Higher Ed

ACCESS DENIED: The New Face of the Textbook Monopoly

Across institutions and majors, an average of 32% of courses included access codes among the required course materials. At institutional bookstores, the average cost of an access code sold solo – i.e., not bundled with a textbook or primary course material of any form – was $100.24.

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Report | Higher Ed

ACCESS DENIED: The New Face of the Textbook Monopoly

Across institutions and majors, an average of 32% of courses included access codes among the required course materials. At institutional bookstores, the average cost of an access code sold solo – i.e., not bundled with a textbook or primary course material of any form – was $100.24.

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News Release | Travel Buddy | Higher Ed

Open Textbooks Pilot renewed, saving college students up to $50 million

 

Today, Congress set aside $5 million to renew the Open Textbook Pilot program for FY19, which gives grants to colleges and universities to promote adoption of free and open textbooks by professors. The program could save students up to $50 million.

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News Release | Higher Ed

70+ Student Leaders Call On Congress to Renew Open Textbook Pilot

As Congress finalizes its FY19 budget, student leaders call on their senators and representatives to renew funding for last years' Open Textbook Pilot, which has the potential to save students more than $50 million.

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News Release | Travel Buddy | Higher Ed

FY18 Open Textbooks Program Appropriation an Important Step for College Students

Statement by Kaitlyn Vitez, higher education advocate for the U.S. Public Interest Research Group, on the inclusion of an open textbook program appropriation in the FY18 omnibus budget just introduced in Congress.

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Report | Travel Buddy Education Fund and the Student PIRGs | Higher Ed

Fixing the Broken Textbook Market

This study demonstrates that despite recent steps forward in the marketplace, high textbook costs will continue to be a problem for students unless the cost of high-priced, new editions of college textbooks comes down.

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Report | Travel Buddy | Higher Ed

Student Loan Debt in Maine

Without a new plan from Congress, on July 1 the interest rate on subsidized Stafford student loans will double, from 3.4 percent to 6.8 percent. In Maine, 33,883 federal student loan borrowers will be impacted if the rate doubles.

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Report | Travel Buddy | Higher Ed

Issue Brief: Don't Double Our Rates

Congress should be helping to keep college affordable, not making it more expensive for student loan borrowers to pay for college.

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Report | Travel Buddy 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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Report | Travel Buddy | Higher Ed

The Cost of College Will Soar if Interest Rates Allowed to Double

The loans distributed by the U.S. Department of Education currently hold an interest rate of 3.4 percent. But that rate is set to double if Congress fails to act by July 1, 2012. If that occurs, millions of students will see their interest rates soar to 6.8 percent on the new loans they take in the next year thereby causing a steep rise in their loan burden and effectively increasing the cost of attaining a college degree.

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News Post | Higher Ed

Senate Banking Committee On Student Loans and Campus Cards | Ed Mierzwinski

Last week the U.S. Senate Banking Committee heard recommendations on campus banking and student loan issues from student advocates, including Travel Buddy Higher Education Program Director Christine Lindstrom. The hearing also featured a spirited exchange between Senator Elizabeth Warren (MA) and a bank witness concerning the failure of private student lenders to give student-consumers more options to re-finance or defer their loans, including in cases of extreme undue hardship, such as when the borrower dies suddenly.

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News Post | Higher Ed

Student Loan Forgiveness: Available for Many, Used by Few |

More than 33 million Americans are eligible for student loan forgiveness, but only a tiny fraction to advantage of the program.

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News Post | Higher Ed

Students to Congress: Don’t Double Our Rates | Chris Lindstrom

Earlier this week, the Education and Workforce Committee in the U.S. House held a hearing to purportedly “strengthen” the federal student loan program. Sadly, the proposals put forth by leaders in the hearing do anything but help solve the problem of high cost federal student loans. What the hearing did do was serve as a grave reminder that on July 1, student loan interest rates on subsidized Stafford student loans will double from 3.4 percent to 6.8 percent—driving up the cost of higher education for 8 million students by $1,000 per loan.

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News Post | Higher Ed

Obama's New Consumer Finance Chief Can Lower Student Debt | Rich Williams

President Obama took a bold and important step this week, standing up for student consumers by of former Ohio Attorney General Richard Cordray to head the new . The president's action means that the CFPB now has all its powers to protect students from unfair financial practices that pile on student debt, including lenders offering dangerously expensive private student loans and aggressive credit and debit card marketing.

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News Post | Higher Ed

Student Loan Defaults Skyrocket, Double in Past 6 Years | Rich Williams

On September 12th, the US Department of Education released the on student loans. The number of students who defaulted within two years of entering repayment increased to 8.8%, up from 4.5% in FY 2003 and 7% in FY 2008.

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News Release

Two of the biggest textbook publishers announce controversial plan to merge, consolidating power in a broken marketplace.

News Release | Travel Buddy

Today, congressional leaders from both parties introduced legislation that could save American college students nearly a billion dollars on textbooks.

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