Feature Story

March 25, 2008

Survey Gives Early Snapshot of Impact of Credit Crunch on Student Loans at Private Colleges and Universities

From National Association of Independent Colleges and Universities:

A significant number of private colleges and universities report reductions in student loan availability and borrower benefits, according to the results of a survey conducted by the National Association of Independent Colleges and Universities, and released today.

"While the comments offered by survey respondents indicate that there is little evidence of the credit crunch limiting access to student loans at the specific time of the survey, the data collected serves as a warning flare," said NAICU President David L. Warren.

"There is widespread uncertainty about what the full extent of the credit crunch and its impact on student borrowers will be, and what safeguards the federal government will have in place to avert a crisis," Warren said. "Institutions are looking for national guidance."

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