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Financial Aid in the News

Last-Minute Student Loans Are Still Available (U.S. News & World Report)

"Students and parents have had to search harder, wait longer, pay more, and - in at least a few cases - post pleas for funding on the Web. But most of the nearly 9 million education borrowers this fall appear to be getting the loans they need," U.S. News & World Report reports. "At least 130 lenders, including big banks such as Washington Mutual and Wachovia, shut down some or all of their student lending departments this year. Quick fixes by Congress appear to have stanched the exodus of lenders and freed up cash for borrowers. 'We are not aware of any students whose borrowing difficulties have blocked their ability to enroll,' says Bob Cohen, spokesman for the Career College Association, whose membership of for-profit trade schools lost the most lenders of any type of college. 'Without Congress stepping in, the crunch would be a crisis,' he added."

You can read the complete September 4, 2008 U.S. News & World Report article on-line.

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