February 21, 2008 Get your student loans now!

I read an article today that could affect all of us. Apparently the housing market is not going to be the only lenders that are having problems. Issues have now spread to the education market as well. Issues are stemming from a spike in default from students borrowing more than they could afford and not being abnle to pay the amount back. The largest lender, Sallie May, reported a $1.6 billion loss last year. What does this mean for student borrowers..... Higher Loan costs, fewer lenders willing to take the risk, and more strict standards for borrowers. Better rush to get that paper work started!