Today, a survey released by Maryland PIRG and the Student Government Association at the University of Maryland shows that 65% of student consumers have opted out of buying a college textbook due to its high price, and nearly half say that textbook costs can dictate whether they take a course.
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.
Avoid The Debt Trap provides you with the tools to avoid misleading and predatory practices by financial institutions and the knowledge you need to protect yourself, empowering students as financial consumers. This guide will help you understand and manage the basics of personal finance: banks, bank accounts, ATMs, bank fees, credit & debit cards, credit scores, budgeting, debt collection, ID theft, and financial privacy.
Thousands of American students are using the Consumer Financial Protection Bureau’s (CFPB) public Consumer Complaints Database to settle disputes about private student loans.
Sallie Mae, the student lending giant, generated the most private student loan complaints nationally, and ranked first or tied for first in every single state. Student loan borrowers in the U.S. carry $24,803 on average in total student loan debt.
PIRG In The News
You may not notice it from your daily commute but Marylanders are driving less. Marylanders have cut their per-person driving miles by 4 percent since 2005, according to a new report from the Maryland PIRG Foundation. The decline mirrors a national trend. Across the U.S., 45 states have reduced per-person driving since 2005, the report said.
Nearly 1 billion recyclable beverage containers will get trashed instead of recycled in Maryland this summer alone. Our low container recycling rate has serious consequences for public health, climate pollution and our quality of life.
Given the history of shady dealings between banks and colleges, Congress needs to take a hard look at the increasingly common practice of schools contracting with banks to disburse financial aiddollars to students.
Thought the student loan crisis was bad as it is? Now add hefty fees into that mix. Providers say students can avoid the fees that pile up when they elect to receive their financial aid on a debit card, but new research from a consumer advocacy group finds that these companies throw up roadblocks to keep the fee revenue rolling in, even as colleges make big bucks off their affiliations with these institutions.
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