Wednesday, April 02, 2008

How Will Credit Crunch Hit Student Loans? A BusinessWeek Feature

Turmoil in the housing market is crunching down on the student loan market. That's the word from this BusinessWeek article, which offers an excellent overview of the topic and some helpful suggestions for the families of college-bound students.

Experts, for example, suggest that families move quickly to lock-in student loans, especially since some lenders are dropping out of that market. Consider this snippet:

"In the past few months, dozens of lenders have announced they are suspending some of their student loan programs or, in some instances, eliminating them entirely. The financial aid Web site, reports that 37 education lenders have exited or suspended their participation in all or part of the federally guaranteed Federal Family Education Loan Program. The outlook is grim for private lenders as well. Eleven lenders have suspended their private student loan programs, and seven nonprofit state loan agencies are also halting some programs."

Source: BusinessWeek

Here are other links from the piece:

Do Consultants Ease Financial Aid Angst?
Colleges Ease Access to Financial Aid
Tuition Assistance for the Middle Class
Q&A: Financial Aid Tips



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