A recent study published by the Federal Reserve Bank of New York found that substantial student debt – the second-largest debt for U

Meanwhile, even as federal financial aid has played a critical role in partially offsetting state cuts to higher education, this funding is threatened, according to a report by the Center for Budget and Policy Priorities.

The 2015 budget passed by the U.S. House of Representatives in early April would reduce Pell Grant funding by up to $125 billion over the next 10 years, freezing the maximum grant amount and restricting program eligibility.

About 56 percent of students in Texas are in debt – and the average amount they have to repay is $24,030.

What Hiltonsmith and other experts also note is that even as debts mount, universities seem insistent on either raising tuition – or refusing to lower it.Continue reading→