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College Affordability

College Affordability

Working to Make Higher Education Affordable


Highlights:


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    NEA members are struggling with student loan debt of unprecedented proportions. Here's why it matters, even if your college days (and bills) are a thing of the past.
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    Credit card debt, outstanding schools loans, a mortgage, car note, daycare expenses, and other bills causing you stress? You're not alone
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    I owe about $85,000 in student loans. Out of desperation, I wrote to my local representatives for help

College costs are soaring, while federal student aid lags behind. Whether 23 or 50, NEA members are struggling under the crushing weight of student loan debt. Nearly two out of every 3 college students owes and average of $19,000.

What's Wrong?

  • A national trend over the last 30 years which has seen the burden of financing higher education shift from the state to the student.
  • Average cost of tuition at a public college has increased 4 percent, but median household income has fallen 2 percent.
  • The last Congress raised interest rates on student loans and cut $12 billion from the Federal Student Aid program.
  • The average student debt burden in 2004 was almost 60 percent higher than the mid 1990's.
  • The average starting salary for teachers in Alabama is $28,000, and the typical student who borrows to pay for a college education graduates with a debt of almost $20,000.

What To Do?

  • Increase need-based grant aid to restore the purchasing power of the Pell Grant. Congress should raise the maximum Pell Grant award to $5,100.
  • Make student loans more affordable by lowering interest rates, limiting the percentage of income students spend repaying loans, and reinstating refinancing of existing loans.
  • Encourage public service careers by expanding loan forgiveness programs for critical public service professions.
  • Cut waste in the student loan programs by passing the Student Aid Reward Act to give money to students and parents, not banks

 

Article: IOU, The State of Student Debt

Student loan debt has eclipsed credit card debt in America. See how students fare in your state.  

TAKE ACTION

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E-mail your members of Congress

Urge your Members of Congress to support the DREAM Act.

RELATED ITEMS

  • anc_dyn_linksCollege Affordability Resources
    Financial management and loan debt resources.
  • anc_dyn_linksStudent Program
    NEA's Student Program represents 60,000 student members are preparing to become tomorrow's educators.

SHARE AND DISCUSS

Loan Debt Horror Stories

What's your student loan debt horror story? Are you thinking about leaving the profession? Are you delaying marriage, having kids, or buying a home?

Reply »

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I need more info:

Support the Rainbow PUSH Education Stimulus Plan

With college costs continuing to soar and more college graduates struggling to make their student loan payments, the Rainbow PUSH Coalition is urging lawmakers to extend the benefits of the federal bailout to these young people.

Sign up here


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