News Releases

News Release | WISPIRG | Higher Ed

Interest Rates for 159,147 Student Loan Borrowers in Wisconsin Set to Double on July 1

Unless Congress acts, on July 1, the interest rate for 159,147 student loan borrowers in Wisconsin will double from 3.4 percent to 6.8 percent. According to an issue brief released today by WISPIRG, the rate increase would hike the cost of Wisconsin students’ loans by $145 million. That translates into a $915 increase in debt per student, per loan.
 

News Release | WISPIRG Foundation | Transportation

New Report Finds Expensive Highway Projects Might Be Unnecessary

A new report from the WISPIRG Foundation finds that usage of seven recently completed highways has not developed as projected, and questions whether building massive and costly new highways is the best way to spend Wisconsin’s scarce transportation resources. The report, Road Overkill: Wisconsin Spends Big on Questionable Highways Even as Driving Declines, also finds that Wisconsinites are driving less per capita today than we did in 1997, further raising doubts as to whether expensive new highways are the best investments for Wisconsin’s transportation future. 
 

News Release | WISPIRG Foundation | Transportation

New Report: Reduction in Driving Likely to Continue

As the average number of miles driven by Americans heads into its eighth year of decline, a new report from the WISPIRG Foundation finds that the slowdown in driving is likely to continue. Baby Boomers are moving out of the phase in their life when they do the most commuting, while driving-averse Millennials move into that phase. These demographic changes will likely keep driving down for decades, according to the report, “A New Direction: Our Changing Relationship with Driving and the Implications for America’s Future.”
 

News Release | WISPIRG | Consumer Protection

Survey Finds Astronomical Rent-to-Own Prices, Interest Rates

A new report found that five rent-to-own stores in Rockford, IL on average charged an annual percentage rate of 221% and displayed outright cash purchase prices as much as two to seven times the cost of the same or similar products at other major retailers. The legislature is currently debating a controversial proposal in the executive budget proposal to provide a special exemption from the Wisconsin Consumer Act for the rent to own industry and which would eliminate the requirement to disclose an APR for Rent-to-Own products sold in Wisconsin.
 

News Release | WISPIRG | Consumer Protection

Statement of WISPIRG Director Bruce Speight Regarding Rent-to-own Provisions in State Budget

Carving out a special interest exemption for a predatory industry that traps consumers, especially low-income consumers, in a cycle of high-cost, perpetual debt is not good for Wisconsin’s economy and it’s not good for Wisconsin consumers.  Unfortunately, the executive budget proposal does exactly that for the rent-to-own industry.
 

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