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

SURVEY SHOWS STUDENTS OPTING OUT OF BUYING HIGH-COST TEXTBOOKS

Today, a survey released by the Travel Buddy 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.

> READ MORE
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.

> READ MORE
News Release | Travel Buddy | Consumer Protection, Higher Ed

Travel Buddy Applauds CFPB Call for Greater Disclosure

Washington, DC — Today, the Consumer Financial Protection Bureau (CFPB) to publicly disclose all of their card agreements with colleges and universities. Currently, institutions only need to disclose agreements regarding credit cards, but not debit, checking, or prepaid cards.

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Media Hit | Higher Ed

Congressman Rubén Hinojosa Introduces Legislation to Help Make College Textbooks More Affordable

The cost of new textbooks has increased 82%, three times faster than inflation, over the last decade

> READ MORE
News Release | Travel Buddy | Higher Ed

Students Endorse New Senate Plan for Affordable Textbooks

Earlier today, Senator Richard Durbin (IL) and Senator Al Franken (MN) introduced the “Affordable College Textbook Act” that aims to make textbooks more affordable for today’s college students.

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News Release | Travel Buddy | 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 Travel Buddy, 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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News Release | Travel Buddy | Higher Ed

Students’ Statement in Support of the Student Loan Affordability Act of 2013

Today, Senators Harry Reid, Tom Harkin, Patty Murray, and Jack Reed introduced the Student Loan Affordability Act of 2013. This bill creates a workable solution to keep student loan interest rates low until 2015 while Congress seeks to reauthorize the Higher Education Act and reach a comprehensive solution to the student loan crisis that is good for students.

> READ MORE
News Release | Travel Buddy | Higher Ed

Where Students Stand To Lose the Most if Federal Loan Rates Double

Travel Buddy released data today detailing the colleges and universities across the country where students would be the most adversely impacted by the looming rate hike on Subsidized Stafford student loans.

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News Release | Travel Buddy | Higher Ed

Statement from Student and Youth Groups on Rep. Kline’s Student Loan Proposal

Yesterday, Rep. Kline introduced a student loan reform package, H.R. 1911, which pegs student loan interest rates to the market, moving away from the fixed rates that are set by Congress. Under this plan, student debt levels will increase. While we are pleased that the proposal includes a cap on interest rates, a critical feature to indicate to borrowers that their loans will not rise past certain limits, the interest rates on some loans could still rise to double digits - far too high.  

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News Release | Travel Buddy | Higher Ed

Representatives Bass and Courtney Speak on Legislative Solutions to Student Debt Crisis

U.S. Representatives Joe Courtney (CT) and Karen Bass (CA) were joined today by student advocacy groups to highlight legislative solutions to rein in student loan debt. One year ago today, the United States' total amount of student debt crossed the $1 trillion mark.

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News Post

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. 

News Post

Big news (and savings) for students.

Report

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.

Report

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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