Thursday, February 21, 2008

Student Loan Crisis Ahead...

A while ago...Sept. 14th I wrote about the nervousness that I have about student loans. "You may have seen or heard on the news lately that mortgage companies are under pressure with regards to borrowers not paying back their loans. I think that in the next few years educational lenders will be in the same spotlight for graduates going into default on their loans. Yikes."

Today on have a headline called "A Student Loan Crisis is Coming"

The article says...
"Like mortgage lenders, student loan companies were criticized in recent years for loose standards that saddled many students with massive debts. Although student lenders didn't rush into the subprime market that eventually backfired with mortgages, they lavished loans on borrowers with little concern about their ability to repay."

I was fortunate and am thankful. All the more reason to study hard in high school and get good grades so in addition to need based aid students will qualify for merit based aid.

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