"The credit crunch has officially arrived on campus," the Associated Press reports. "In a new survey, private colleges report their students are finding it significantly harder to secure the private loans they need to pay tuition bills. More alarmingly, nearly half of colleges say some students have been forced to take time off or go part-time as a result. The survey, released Tuesday by the National Association of Independent Colleges and Universities, confirms anecdotal evidence that the federal financial aid system has held up reasonably well during the financial meltdown. But it paints a more troubling picture for students who need private loans to supplement their federal ones."

The full report is available online.

You can read the complete October 21, 2008 Associated Press article on-line.

Additional Media Coverage

• Surprising Impact of Student Loan Crunch (Inside Higher Ed)
• Student-Loan Crunch Sets Back Some Private Colleges, but Most Manage (The Chronicle of Higher Education)
• Private colleges avoid loan crisis, for now (Pittsburgh Post-Gazette)

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