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

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 U.S. PIRG 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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Report | U.S. PIRG Education Fund and the Student PIRGs | Higher Ed

Affordable Textbooks: A Policy Guide

A guide to policy on textbook affordability through the development of open-source textbooks.

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News Release | U.S. PIRG | Higher Ed

Put Students Before Fees

Statement of Christine Lindstrom, U.S. PIRG Higher Education Program Director, on today’s GAO report on campus debit cards.

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News Release | U.S. PIRG Education Fund and the Student PIRGs | Higher Ed

SURVEY SHOWS STUDENTS OPTING OUT OF BUYING HIGH-COST TEXTBOOKS

Today, a survey released by the U.S. PIRG Education Fund shows that 65% of student consumers have opted out of buying a college textbook due to its high price, and of those students, 94% say they suffer academically.

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Report | U.S. PIRG 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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News Release | U.S. PIRG | Higher Ed

Students Call for Senate to Reject Student Loan Deal

Congress should be doing everything they can to make college more accessible. Yet S. 1334, the Bipartisan Student Loan Certainty Act, would do the exact opposite, by making it harder and more expensive for America's future students to get the education they need.

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News Release | U.S. PIRG | Higher Ed

Student Loan Interest Rate Deal in Senate Will Make Things Worse

Senate lawmakers agreed last night to a deal on student loan reform that is to be voted on as early as Tuesday of next week. Student loans should invest in our future by making education affordable and accessible. Instead, the Senate is forcing students to pay more in order to reduce the deficit.

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News Release | U.S. PIRG | Higher Ed

Statement on Today’s Senate Vote on Student Loan Interest Rates

Today, a minority in the Senate succeeded in blocking legislation to reverse the doubling of interest rates on subsidized Stafford loans for students who need to borrow for college this fall. There’s still time to reverse the rate increase for incoming students. Returning the rate to 3.4 percent is a vital first step to avoid further raising the cost of college for more than seven million students this year.

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News Release | U.S. PIRG | Higher Ed

Interest Rate Doubles for Seven Million Student Loan Borrowers

Due to Congressional inaction, the interest rate on federally subsidized student loans doubled today from 3.4 percent to 6.8 percent. The change will affect seven million students nationwide, and in total the rate increase will hike the cost of students' loans by $7 billion. However, because most new student loans are issued in August and September, Congress can still pass a retroactive fix.  

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News Release | U.S. PIRG | Higher Ed

Interest Rates for 33,833 Student Loan Borrowers in Maine Set to Double on July 1

According to an issue brief released today by U.S. PIRG, the upcoming increase in student loan interest rates would hike the cost of Maine students’ loans by $31 million. That translates into a $910 increase in debt per student, per loan.

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Report | U.S. PIRG | Higher Ed

The Burden Of Borrowing

As college costs continue to swell, students are increasingly shouldering high levels of debt to pay for a college education. Thirty-nine percent (39%) of student borrowers now graduate with unmanageable levels of debt, meaning that their monthly payments are more than 8% of their monthly incomes. According to new data from the Department of Education’s National Postsecondary Student Aid Study (NPSAS), not only are the majority of students turning to loans to finance college, but debt levels are also escalating.

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Report | U.S. PIRG | Higher Ed

Big Loans, Bigger Problems

At the same time that we demand a college education, most students have little option but to take out loans to pay for it. Grants are not keeping pace with the rising cost of higher education, and students are becoming increasingly dependent on loans to pay for college. Students who make the important investment in higher education are graduating with alarming levels of debt.

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