Announcements
Posted: Thursday, May 15, 2008Legislation Attempts to Forestall Student Loan Crisis
From the President
President George W. Bush signed legislation last week to stabilize the $85 billion student loan industry, which has been hard hit by fallout from the subprime mortgage crisis. The new law aims to ensure continued access to federal student loans as the peak summer lending season gets under way.
The legislation makes more grant and loan money available for students and parents, eases terms of repayment for some borrowers, and protects borrowers from being disqualified for student loans if they have had mortgage problems.
The full Reuters article is available online.
