Students Scramble to Secure New Loans as Dozens of Lenders Drop Out
By ALICE GOMSTYN ABC NEWS Business UnitJuly 30, 2008
Read the whole story at:http://www.abcnews.go.com/Business/PersonalFinance/story?id=5475085&page=1
Forget back-to-school shopping: With just a few weeks to go before the start of the fallsemester, many college students are doing somelast-minute student loan shopping as more and more cash-strapped lenders drop out of the student loan business.
As investors have grown wary of putting money in the student loan market, some 100 lenders have gotten out of the college loan business, leaving many students in the lurch. Texas A&M University financial aid director Delisa Falks said that in the last few days, the university has heard from seven different lenders saying they could no longer provide federally-guaranteed loans.
It's a problem that has been ongoing nationwide for months, leaving many students with dwindling options to finance their college educations.
Now this is what really makes me mad about this whole "credit" crisis, the people that want tolearn can not!
It is a shame that our next generation has to suffer for things that they probably do noteven know about.
You have to wonder why some other countriesare moving past our nations school systemin grades and performance. This is one area that the government should step in and assist quickly.
What do you think??
Pat Gagewww.10stepstomoney.com
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