Student Consumer Action Network

After Wall Street practices brought down the entire U.S. and parts of the world economies, Congress finally stepped up in July 2010 and created the MASSPIRG Students-backed Consumer Financial Protection Bureau (CFPB), a new agency that will act as a counterbalance to the banks and ensure that the credit cards, mortgages, and student loans that consumers use are safe and easy to understand. When you have a complaint about a bank or credit card company, you can call on the new CFPB.

Our economy needs to be fair to consumers in order to function. While a company may make a short-term profit from ripping off consumers or putting an unsafe product on the market, it's not good for anyone in the long term. 

Our consumer program works to protect consumers by:

  • Alerting the publice to hidden dangers, scams, and unsafe products
  • Educating consumers about the choices available by conducting price surveys of various products and services available to students in an effort to allow them to the make the best choices for themselves.
  • Educating consumers about their rights in the marketplace by producing consumer guides to help people navigate the marketplace.
  • Advocating for change by working to build the support it takes to pass consumer protection legislation in our states and in D.C.

As students, we're particularly vulnerable to some specific consumer issues:

Issue updates

States lose $40b in revenue to offshore tax havens, MASSPIRG study says

While the debate over offshore tax loopholes generally takes a national focus, a consumer advocacy group is reporting that states lose nearly $40 billion a year in tax revenues to companies and wealthy people who shelter money abroad.

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Toy Safety Tips

Summary

From toxic chemicals to choking hazards to dangerous magnets, see what dangerous toys to watch out for while you shop.

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Trouble in Toyland

The 2012 Trouble in Toyland report is the 27th annual U.S. Public Interest Research Group survey of toy safety. In this report, U.S. PIRG provides safety guidelines for consumers when purchasing toys for small children and provides examples of toys currently on store shelves that may pose potential safety hazards.

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News Release | Higher Ed

President Signs Bill Preventing Student Loan Interest Rates from Doubling

Students can breathe a sigh of relief today. At least for the next year, student strapped with debt will get a temporary reprieve from doubling interest rates on their loans borrowed next year.

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Blog Post | Higher Ed, Student Debt

Victory for Students. | MASSPIRG

We did it.

Over 7 million students will save an average of $1,000 in loan repayments, helping us become the next generation of teachers, doctors, and innovators.

Friday, in a strong display of bi-partisan support, Congress voted to stop student loan interest rates from doubling. This is great news for students who now graduate with an average of $25,000 in student debt, twice as much as a decade ago. Without Congressional action, the interest rate would have doubled from 3.4% to 6.8% on July 1st.

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