We did it.
Over 7 million students will save an average of $1,000 in loan repayments, helping us become the next generation of teachers, doctors, and innovators.
Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the Congressional passage of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling.
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.
PIRG In The News
CLINTON, N.Y. — They text their friends all day long. At night, they do research for their term papers on laptops and commune with their parents on Skype. But as they walk the paths of Hamilton College, a poster-perfect liberal arts school in this upstate village, students are still hauling around bulky, old-fashioned textbooks — and loving it.
WASHINGTON — Ending one of the fiercest lobbying fights in Washington, Congress voted Thursday to force commercial banks out of the federal student loan market, cutting off billions of dollars in profits in a sweeping restructuring of financial-aid programs and redirecting most of the money to new education initiatives.
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