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Financial Aid in the News

Student Loans Start To Bypass 2-Year Colleges (The New York Times)

"Some of the nation's biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive institutions, even as they continue to extend federally backed loans to students at the nation's top universities," The New York Times reports. "Citibank has been among the most aggressive in paring the list of colleges it serves. JPMorgan Chase, PNC and SunTrust say they have not dropped whole categories, but are cutting colleges as well. Some less-selective four-year colleges, like Eastern Oregon University and William Jessup University in Rocklin, Calif., say they have been summarily dropped by some lenders. The practice suggests that if the credit crisis and the ensuing turmoil in the student loan business persist, some of the nation's neediest students will be hurt the most."

You can read the complete June 2, 2008 New York Times article on-line.

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