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Release date 01/21/2016
WASHINGTON, D.C. – Consumers Union, the policy and advocacy division of Consumer Reports, praised a group of Senators today for introducing a package of bills that will help make college more affordable and assist those struggling to pay off their education debt. The bills aim to ensure Pell grants cover more of the cost of higher education, enable Americans to refinance their loans at lower rates, and create a path for more students to afford community college without going into debt.
“We have a college affordability and education debt crisis that is crippling families across the country and holding back a generation of Americans,” said Suzanne Martindale, staff attorney for Consumers Union. “It’s time for lawmakers to take bold action to help those who are going deep in debt to pay for the education they need to reach their potential and provide for themselves and their families. These bills enact a number of important reforms that will help bring down the cost of going to college and provide a vital lifeline to those drowning in education debt.”
The Reducing Education Debt Act introduced by lawmakers today includes a proposal by Senator Elizabeth Warren that would help Americans lower their education debt by refinancing their federal and private student loans. It incorporates a plan by Senator Mazie Hirono that indexes Pell grants to the rate of inflation so that they will help pay for more of the cost of college. And finally, it features a proposal by Senator Tammy Baldwin that provides federal matching funds of $3 for every dollar invested by states to help students waive tuition and fees for community college.
Media Contacts:
Michael McCauley, Consumers Union, 415.431.6747 ext 7606 or mmccauley@consumer.org
David Butler, Consumers Union, 202.462.6262 or dbutler@consumer.org
Kara Kelber, Consumers Union, 202.462.6262 or kkelber@consumer.org
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2016 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2016 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.