"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 FinAid.org, 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."
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