In light of the recent news on campus, MaryPIRG Student Chapters want to remind students that there are ways to protect yourself and your personal information.
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.
PIRG In The News
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.
Consumer advocates have long criticized the amount of fees associated with debit cards. Most recently, a report by the U.S. Public Interest Research Group Education Fund found that hundreds of colleges have partnerships with financial companies to put a student’s financial aid on debit or prepaid cards that carry hefty fees. Under some of these deals, official student photo ID cards can double as debit cards.
College students are finding their scarce dollars eaten up by fees on the cards, which many schools are using for student IDs and to disburse financial aid, according to a new study by U.S. Public Interest Research Group.
The Diamondback Editorial Board wrote their editorial about the importance of the doubling of student loan interest rates in July. It's always great when the campus paper, student government, and our Congressional Rep. understand the importance of investing in higher education and our future. Check out the full story:
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