The recent credit crunch has finally begun to affect companies that issue education loans. Some loan companies are pulling out of lending all together while others are increasing restrictions and/or costs. Which students are most like going to be affected? Students at community colleges and vocational schools. Why? Students are historically less likely to finish and more likely to default on their loans.
Students and their families need to seriously research their financial & educational options. Otherwise, you might end up with a very costly student loan – or worse yet – no loan at all.
Read more from the article by David Cho and Maria Glod in the Washington Post.