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Financial Aid in the News

Northeastern To Alter Loan Program (The Boston Globe)

"Northeastern plans to announce today that it will provide student loans exclusively from the government in an effort to ease students' and parents' anxiety over the availability of loans amid recent tumult in the financial markets," The Boston Globe reports. "The move is a major shift for the university and one that could herald a broader change in the source of education loans. Northeastern officials said the move was prompted by the turmoil in the student loan industry caused by fallout from the subprime lending crisis. A number of commercial lenders and state agencies have announced in recent weeks that they will no longer provide federal education loans because of a deepening credit shortage and reduced government subsidies."

You can read the complete March 17, 2008 Boston Globe article on-line.

Northeastern University Press Release

Posting of "Financial Aid in the News" does not imply endorsement or support by NASFAA. If you attempt to access an article and receive a "not found" message, it is likely that the article has been removed from the site. Posted 03/17/08 to www.NASFAA.org. Please submit Web Site questions or comments to Web@NASFAA.org.