Photo courtesy of iStockphoto, Thomas Perkins
Some online college students may have more difficulty securing student loans in the coming semester. It seems that the mortgage crisis has affected more than just homeowners. NPR reports:

“Driven by the credit crunch, big banks are cutting back student loan programs, nixing cash access for students at community colleges and small four-year colleges deemed “less competitive.”

The mortgage industry crisis, says Robert Shireman of the Project on Student Debt, has affected college lending as well, even though most college loans are federally guaranteed. “The problems in the mortgage industry caused a virus of sorts, which upset the way that a lot of different types of loans were financed, even these very secure loans that are essentially co-signed by the federal government,” he said.”

Despite this issue, most students will still be able to take out loans. However, it may require a bit of searching to find a bank that will lend. Potential students worried about loan issues should talk to their school's financial aid office – most schools have a list of lenders happy to work with them.

See full article.

Related Entries:

Help For Disabled Persons With Student Loan Debt – 19 December 2005

Lock In Your Student Loan Rates Before It’s Too Late! – 31 May 2006

Explore Student Aid Options with FAFSSA4caster – 10 July 2007

New Student Loan Bill – More Grant Money, Less Loan Money – 30 September 2007

Advertisement

Contents of this feed are a property of Creative Weblogging Limited and are protected by copyright laws. Violations will be prosecuted. Please email us if you’d like to use this feed for non-commercial activities at feeds – at – creative-weblogging.com.

Less Money for School? from Degree Space

I came across a rather unique scholarship fund today. CollegeScholarships.org is giving a $10,000 award to a college student that blogs. Here's a blurb about their Blogging Scholarship:”At College Scholarships.org we believe that everyone deserves a shot at a decent…

Continue.

SPONSOR

College Scholarships…for Bloggers from Degree Space

I came across a rather unique scholarship fund today. CollegeScholarships.org is giving a $10,000 award to a college student that blogs. Here's a blurb about their Blogging Scholarship:”At College Scholarships.org we believe that everyone deserves a shot at a decent…

Continue.

SPONSOR

College Scholarships…for Bloggers from Degree Space

Textbooks can be a major expense for college students. Books for a single course can total in the hundreds, and a semester's worth of books can be over a thousand dollars. A recent New York Times article discusses the pitfalls…

Continue.

SPONSOR

How to Save on Textbooks from Degree Space

North Carolina recently announced a pretty amazing deal for its high school students: free online high school and college courses. The students can enroll in as many courses as they can reasonably handle in order to complete high school requirements…

Continue.

SPONSOR

North Carolina Offers Free Online Classes for High School Students from Degree Space

Online learning may seem like an easy way for colleges to save a few bucks. But, when you consider the recurring software and technology costs quality programs pay, you'll find that these programs can be more expensive than traditional college…

Continue.

SPONSOR

Online College Gets Expensive from Degree Space

Attending a quality online college can cost tens of thousands. Some students take out hefty federal loans, others wait until they've achieved some level of career success before enrolling. I recently came across a rather ingenious student who is paying…

Continue.

SPONSOR

Blogging to Pay Online School Tuition from Degree Space

I recently wrote about state-wide sales tax holidays for my About.com site. Here’s a blurb: “Every year several states let buyers purchase back-to-school items tax free. This can be the perfect time to stock up on school supplies or purchase…

Continue.

SPONSOR

School Supply Sales Tax Holidays from Degree Space

The United States Department of Education has a new website, FAFSAforcaster.ed.gov. During this time of rising student loan rates, their site will allow potential students to get a better idea of the type of financial aid they can receive: “If…

Continue.

SPONSOR

Explore Student Aid Options with FAFSSA4caster from Degree Space

If you have student loans from your online or traditional studies, now's the time to consolidate. Interest rates will be going up July 1st. To hear more about student loan consolidation, check out a recent streaming NPR segment: The Color…

Continue.

SPONSOR

Consolidate Those Student Loans – Interest Rates Rising July 1 from Degree Space