Credit Crisis and Student Loans
According to a Washington Post Article today, they state that many college students all over the USA will start to see higher costs for student loans this coming spring, they state many may be turned away by banks altogether because of the credit crisis across the nation. This crisis has spread throughout the economy according to Wall Street Firms.
Here’s a snippit from the Washington Post Article on this subject:
An even greater burden may fall on those taking out private loans, which have become increasingly common as students look for new sources to finance the soaring costs of college. These loans often have variable rates, and they are projected to jump this year. And at community and for-profit colleges, some students may be denied private loans entirely because the financial industry considers them riskier investments than their peers at other educational institutions.
Referenced Source: By David Cho and Maria Glod, Washington Post Staff Writers, Monday, March 3, 2008; Page A01
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