In today's tough economy, college students are finding it harder to get loans for school.
In recent months, more than 50 lenders have suspended new government-backed student loans, or they've raised the interest rates for private loans as much as 19 percent.
Some schools have a direct loan program, and those funds are protected by the Department of Education.
But less than 50 percent of schools around the country participate in that program.
The bailout passed by Congress gives the federal government the authority to buy-up bad student loan debt.
Something many lawmakers say is a good idea.
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College students feel economic crunch with loans
College students feel economic crunch with loans (Added: October 12, 2008)
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In today's tough economy, college students are finding it harder to get loans for school.
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WNCT-On Your Side
Published: October 12, 2008
Published: October 12, 2008
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