S.F. Lender To Students Is Clearing Out (The San Francisco Chronicle)
"Education Finance Partners, one of the companies at the center of New York Attorney General Andrew Cuomo's investigation into student-lending practices last year, has abruptly ceased making loans and is clearing out of its San Francisco headquarters," The San Francisco Chronicle reports. "The timing was especially bad in this case. 'It's right when students are paying bills and all the money they were counting on evaporated. I've been getting calls from students in many states about this,' says Mark Kantrowitz, publisher of Finaid.com. Robert Shireman, director of the Project on Student Debt, estimates that 2 percent of college students 'are experiencing some hassle and difficulty' obtaining loans because of the credit crisis. Most students whose loans fall through will be able to get other, in some cases better, loans."
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