How the Recession Affects Colleges and Universities
In a time when the economic downturn has already affected public companies, government agencies and other businesses, one may wonder how the recession affects colleges and universities.
Without a doubt, our current economic challenges have started to affect all levels of the education system. One of the most devastating side effects is the reduction of the number of scholarships made available by government agencies and schools to students.
For the first time in their respective histories, many charities, private organizations and schools have announced that they are cutting the number of grants and scholarships that they would normally offer to students.
As for loans, some lenders have already completely stopped offering loans to students. So far this trend seems to only be the case with private loans. The federal government still makes sure that students and families can apply for loans with reasonable repayment terms.
Many local governments still make a wide range of options available to students, including graduate school loans. While the recession has affected colleges and universities around the country, students are still offered some alternatives either through federal assistance or their local governments.
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