Sunday, September 7, 2008
Lack of loans puts students in bind
There is a nice article in the Pittsburgh Tribune-Review about the lack of student loans. Lots of students have had to change their student loan companies this year due to the lack of loans. This has put many students in the unfortunate place where they aren't sure if they can go back to school. You can read the complete article here.
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Credit requirements are tougher now, and loan options are fewer because many banks no longer view education loans as a good investment. Fewer students will be able to afford to go to college, but many resourceful students will discover innovative funding sources.
A larger percentage of college students and parents will seek alternative funding sources, such as contributions from family, friends, and alumni. Alternative funding websites, such as SchoolRaise.com, are available to help students and parents reach out to the people in their social networks (friends, family, alumni, etc.) and request help paying for college, $50 at a time.
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