"I take it as good news that private student loans are declining fast," The Washington Post reports. "According to a new report from the College Board, the amount of nonfederal education loans in 2008-2009 dropped by almost 50 percent from the previous school year and fell to 13 percent of the market from 25 percent a year earlier. ... The reason for this trend is obvious. The terrible recession has broken a long-standing trend toward private loans, which generally carry higher interest rates than federally subsidized or unsubsidized loans. Additionally, borrowers don't get the same protections or perks. For example, the government pays the interest on subsidized Stafford loans and Perkins loans while a student is in school."