Apr 15 2008
Fewer Options Open to Pay for College
Posted by admin
Student loan companies are in dire times and banks are tightening their lending standards by raising rates on borrowing, according to a story on the New York Times website.
As the economy worsens, the traditional ways in which to finance College will become less accessible. This proves especially difficult for families already who are already extended with debt.
Although the New York Times gives several examples of families hit hard by tightening lending standards in the banking industry, statistcs won’t be available on how bad the actual lending situation is, until mid- to late June or July.
Source: http://www.nytimes.com/2008/04/12/business/12loan.html?_r=1&ref=education&oref=slogin