Updates

Report | U.S. PIRG | 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.

News Release | U.S. PIRG | Higher Ed

Federal Government Makes Billions from Student Loan Borrowers Yearly

Today, a coalition of youth and student groups released an issue brief demonstrating that the federal government is making billions in revenue through the federal student loan program. The report projects that student loans will generate over $36 billion in revenue in 2013, in part because of a scheduled July 1 doubling of Stafford loan interest rates.

Media Hit | Higher Ed

New York Times: Student Loan Rate Set to Rise, Despite Lack of Support

“Higher education loans are meant to subsidize the cost of higher education, not profit from them, especially at a time when students are facing record debt,” said Ethan Senack, the higher education advocate at the United States Public Interest Research Group.

News Release | U.S. PIRG | Consumer Protection, Financial Reform

CFPB Ends Kickbacks by Mortgage Insurers

U.S. PIRG applauds CFPB’s enforcement action, including over $15 million in total penalties, against four mortgage insurers to end the practice of giving kickbacks to mortgage companies to get their business.

Do better Facebook friends mean a better credit score?

By | Ed Mierzwinski
Consumer Program Director

"Big Data" has created a new front in the war on privacy. Should a prospective employer be able to "friend" you or use your Facebook password to vet you?  When, if ever, should colleges, employers and lenders be able to look at your Facebook or other social network pages to see if your friends make you a better bet to enroll, hire or grant a loan to than someone with loser friends?

Report | U.S. PIRG Education Fund | Budget, Tax

Following the Money 2013

Every year, state governments spend tens of billions of dollars through contracts with private entities for goods and services, subsidies to encourage economic development, grants, and other forms of spending. Accountability and public scrutiny are necessary to ensure that state funds are well spent.

News Release | U.S. PIRG | Transportation

Consider ASCE Report Card in Light of Stimulus Repairs and Reduced Driving

Statement by Phineas Baxandall, U.S. PIRG Senior Analyst, explaining how reactions American Society of Civil Engineers (ASCE) report card for America’s infrastructure should be interpreted in light of: (1) the short-term federal assistance from stimulus funds that have since expired; and (2) a persistent trend by Americans toward driving less.

Students to Congress: Don’t Double Our Rates

By | Chris Lindstrom
Higher Education Program Director

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.

News Release | U.S. PIRG | Higher Ed

Don’t Double Student Loan Interest Rates

Today, college student leaders from Kent State University, Florida International University, together with Sarita Brown, president of Excelencia in Education, and Ethan Senack from the U.S. Public Interest Research Group, called on federal lawmakers to keep student loan interest rates from doubling. On Wednesday, the House Education and Workforce committee will debate the costs and benefits of the federal student loan program, including student loan interest rates.

News Release | U.S. PIRG | Budget, Tax

BP Trial Decision May Hinge on Tax Deductibility

The high-stakes negotiations between BP and the Justice Department may depend on how determined the Department is to protect taxpayers from subsidizing a settlement. In the past, agencies have allowed companies to write off legal settlements over wrongdoing as a tax deduction. Doing so forces taxpayers to ultimately foot the bill for these deductions. Every dollar these companies avoid paying gets made up through cuts to public programs, higher national debt, or increases to other taxes.

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DEFEND THE CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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