Student Loan, Just Another Effected By The Bad Economy
[Jul 1, 2008.]
It is no secret that the credit crunch is on and it is bad. Caused by the fall out of the sub prime mortgage market lenders are far too cautious about lending money to those they deem 'at risk' for fear of loosing money. This is causing the current economic down turn that has begun to hit all sectors of the economy both in the United States and world wide.
The latest victim is those much needed student loans. Sallie Mae one of the largest providers of student loans has reported a loss of $1.6 billion last quarter alone. Lenders are finding it harder to find investors willing to risk the money to back private student loans. The Federal Government has promised to back those federally guaranteed loans but for many lenders like Sallie Mae the majority of the loans are private and therefore not guaranteed.
This is causing extreme worry among incoming college students and those returning this year that need a loan to pay for their education. The government is promising relief for the student loan system but many are unsure if it will be enough.
Students who are scared about the student loan situation should act quickly in order to find a loan. The fact is if something is not done soon there will just not be enough loans available to students. Students will need to act fast and tenaciously to lock in a loan.
Some students will find it necessary to go through their bank or other lenders to find a loan. Students should not rely on this method; however, as banks and lenders across the board have become very weary of whom they lend to.
Chances are if you have bad credit you will not get a loan.
Student loans are facing the same crisis that has rocked the economy. Experts believe that relief may come before the start of the fall term but students need to be prepared for the worst.
Recent News:
- More good news on auto loans
The National Automobile Dealers Association has been meeting over the weekend, and delegates were more upbeat than they have been for years.
[February 6th, 2012] - Auto loans dodge credit-tightening bullet
It's getting tougher to get approved for many types of finance. But auto loans are an exception. Perhaps that's why 2012 is looking so rosy for car makers -- and car buyers.
[January 31st, 2012] - How to get the best deals on auto loans
Too many people pay too much for their auto loans. Don't be one of them.
[January 22nd, 2012] - Auto loans could get even easier to find
One expert is predicting that cheap auto loans are going to be easier to get in 2012. Is she right?
[January 17th, 2012] - Detroit auto show heralds strong year for car makers, auto loans
As the Detroit auto show opens today, the spirit of optimism is likely to be in stark contrast with the dark moods of the last three years. And much of that is down to the widening availability of auto loans. Now, even those with troubled mortgage histories stand a better chance of being approved.
[January 9th, 2012]
Easily subscribe to the rebuild.org news feed.
Read our news without even visiting our site!
Rebuild.org monthly news archive
- February 2012 (1)
- January 2012 (5)
- December 2011 (6)
- November 2011 (8)
- October 2011 (9)
- September 2011 (8)
- August 2011 (18)
- July 2011 (19)
- June 2011 (17)
- May 2011 (16)
- April 2011 (12)
- March 2011 (11)
- February 2011 (18)
- January 2011 (20)
- December 2010 (21)
- November 2010 (18)
- October 2010 (21)
- September 2010 (17)
- August 2010 (19)
- July 2010 (20)
- June 2010 (17)
- May 2010 (20)
- April 2010 (27)
- March 2010 (31)
- February 2010 (23)
- January 2010 (27)
- December 2009 (27)
- November 2009 (24)
- October 2009 (28)
- September 2009 (24)
- August 2009 (32)
- July 2009 (41)
- June 2009 (43)
- May 2009 (42)
- April 2009 (48)
- March 2009 (48)
- February 2009 (29)
- January 2009 (45)
- December 2008 (45)
- November 2008 (24)
- October 2008 (7)
- August 2008 (17)
- July 2008 (17)
- June 2008 (47)
- May 2008 (43)
- April 2008 (50)
- March 2008 (10)
- February 2008 (14)
- January 2008 (8)
- December 2007 (10)
- November 2007 (20)
- October 2007 (21)
- September 2007 (18)
- August 2007 (28)
- July 2007 (31)
- June 2007 (17)
- May 2007 (12)
- April 2007 (8)

