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Over 1000 Professors Join Effort to Make Textbooks Affordable

One thousand professors from over 300 colleges in all 50 states released a statement declaring their preference for high-quality, affordable textbooks, including open textbooks, over expensive commercial textbooks. Open textbooks are high quality open-access textbooks reviewed and written by academics that can be used online at no cost and printed for a small cost.  Open textbooks are already used at some of the nation’s most prestigious institutions, like Harvard, Caltech and Yale. Textbooks cost students an average of $900 per year, which is a quarter of tuition at an average four-year public university and nearly three-quarters of tuition at a community college, according to the GAO. Research conducted by The Student PIRGs identifies publisher tactics as the primary cause of escalating prices.  Bundling textbooks with unnecessary supplements forces students to purchase items they do not need; unnecessary new editions undermine the used book market; and withholding critical price information keeps faculty in the dark. “As faculty members, our top priority is to choose the textbook that is best for our students.  We share concerns about affordability, and face similar frustrations with publisher practices,” said Sandra Schroeder, Chair of the American Federation of Teachers Higher Education Program and Policy Council.  “Open textbooks and other affordable options, when appropriate for a course, are a win-win for everyone.” Here are some examples of open textbooks: Introduction to Economic Analysis A First Course in Linear Algebra Introduction to Physical Oceanography Check out a great front-page article in the Pittsburgh Post-Gazette

New Report Exposes Deceptive Credit Card Practices on Campus

Student PIRG chapters across the country released the "Campus Credit Card Trap" report, which outlined the unfair marketing practices of the credit industry. Students overwhelmingly support limits on campus credit card marketing, according to the results of the nationwide USPIRG survey of more than 1500 students at 40 colleges in 14 states. The average student receives nearly 5 credit card offers a month and nearly two in three students reported that they had at least one credit card. Fifty-five percent of cardholding students said they used their card for day-to-day expenses. Reflecting escalating college costs, 55 percent said they charge their books and nearly one-quarter said they pay their tuition with a card. On average, freshmen had a balance of $1,301 and seniors had more than twice that, $2,623. Credit cards are marketed to students using free gifts and introductory teaser rates. The use of aggressive marketing techniques obscures students' ability to be scrutinizing consumers when considering a credit card contract.  Seventy six percent of students reported stopping at tables on campus to apply for credit cards, and nearly one-third were offered a free gift to sign up. Check out the Washington Post article printed April 13th 2008 Learn more at: truthaboutcredit.org

Congress Passes Milestone Student Aid Bill

On September 7th, 2007, the U.S. Senate and House of Representatives passed the College Cost Reduction and Access Act by broad bipartisan votes of 79 to 12 and 292 to 97 respectively. The bill now goes to the President who has said he will sign the legislation into law. The College Cost Reduction and Access Act is the most meaningful higher education reform in more than 15 years. The bill addresses the financial challenges of access and affordability that face American college students. It provides billions of dollars a year in additional grant aid to low-income students through the Pell Grant program. It will also help students address the burden of rising student debt through lower interest rates and a new repayment system. The bill also trims excessive subsidies that benefit a handful of banks and directs them to millions of students and families who are working to pay for college. The College Cost Reduction and Access Act will: Increase the maximum Pell Grant award by $490 for each of the next two school years, by $690 for the following two school years and by $1,090 for each following year. The Pell Grant is the nation’s premier college access program, providing grants to 5 million low-income students each year. The maximum Pell Grant is currently $4,310. Create an income-based repayment program that allows borrowers to repay their loans as a percentage of their income. This new program will protect borrowers with low salaries from having to make unmanageable payments. As a result students will be able to make employment and life decisions based on their values rather than the volume of their debt. Reduce interest rates on student loans for more than 5 million low and middle-income student borrowers receiving subsidized Stafford loans. Finance increased education spending by reducing subsidies to student lenders. Lenders will receive a reduced rate of return for offering federal student loans and a slightly reduced reinsurance rate from the federal government. As a result, the increased grant aid and loan benefits will have no additional cost to taxpayers.

House Passes Student Aid Bill

On July 11th, the U.S. House of Representatives passed the "College Cost Reduction Act of 2007" (HR 2669) by a vote of 273-149. The bill will substantially increase the purchasing power of the Pell Grant, the nation's premiere need-based grant program which benefits millions of low income students, increasing the maximum grant amount by $100 for five years beginning in 2008-9. It will make student loan debt more affordable by cutting the interest rate on student loans in half, to 3.4%, by 2012, and by capping loan repayment amounts to a reasonable percentage of a graduate's income. HR 2669 goes a long way toward solving the college affordability and access crisis in the country.

House Votes to Increase Pell Grant

The U.S. House of Representatives voted to increase the size of the maximum Pell Grant by $260, to $4,310.  This is the first time the size of the Pell Grant has been increased since 2002.  The Pell Grant is the federal government’s premier need-based grant aid program, providing aid to more than five million low-income students. Over the last five years, while students have paid more for college, the maximum Pell Grant has remained frozen.  As a result students have had to make up the gap between tuition and aid with more work and larger loans.  This increase will start to provide students with the aid they need to access an affordable college education.  To fully restore the Pell Grant to its historic value, we’re continuing to call for the maximum to be increased to $5,100 in the coming budget cycle.

House Tops Off First 100 Hours by Passing Clean Energy Act

On January 18th, by a vote of 264 to 163, the U.S. House of Representatives passed the Clean Energy Act. The U.S. PIRG-backed measure closes some tax loopholes for big oil companies, recovers billions in lost royalties for drilling in public waters, and shifts more than $14 billion to investments in clean energy.   By harnessing renewable energy sources like wind, solar, and clean biofuels, we can secure our economy and create jobs. By promoting technologies to save energy, we can dramatically reduce our dependence on oil and save consumers money. More than ever, America needs a new direction on energy policy. With the passage of the CLEAN Energy Act of 2007, Congress would send a clear message that they are ready to start solving our energy problems. For more information, read http://www.allheadlinenews.com/articles/7006189616.

House Votes to Lower Interest Rates for Student Loans and Cut Excessive Subsidies to Private Lenders

On January 17th, by a vote of 356 to 71, the U.S. House passed, by an overwhelming bipartisan majority, legislation to lower the interest rates on student loans over the next five years.  According to an analysis by the Student PIRGs, the move would save the average low or middle-income borrower starting school in 2007 $2,300 in debt.   “H.R. 5 pays for better benefits for students by cutting excessive federal subsidies to private lenders,” explained U.S. PIRG Higher Education Advocate Luke Swarthout.  “The bill saves millions of students thousands of dollars over the life of their loans by eliminating wasteful subsidies.   The bill, H.R. 5, will lower interest rates on subsidized Stafford student loans, which are used overwhelmingly by students from low- and middle-income families. The Senate will likely take up the issue of lower interest rates as a part of a larger package of higher education policies in the next several months. For more information, read http://www.nytimes.com/2007/01/18/us/18loans.html

USM students campaign for student aid funding

Maine PIRG students at USM successfully worked to convince Senators Snowe and Collins to support higher education funding. USM students held 3 press conferences and got 10 news outlets to cover the issue, generate serious buzz in the media. They also held a campus task force meeting of student leaders to discuss how higher education affordability affects USM students.