A car loan may be hard to come by for some. Same with home loans. Businesses say they aren't getting much credit.
But college loans are actaully up substantially, according to a report Tuesday in The Wall Street Journal.
Citing figures through Nov. 28, it says the federal government has guaranteed or made $65.2 billion in student loans for the 2008-2009 school year, up 18.6 percent from the same time a year ago.
Experts cite early intervention through the Ensuring Continued Access to Student Loans Act passed in the spring.
The story points out that while some student lenders asked for upfront infusions of government funds, the act instead required lenders to make loans with their own money before the government would guarantee or invest in them.
Source : http://economy.kansascity.com/?q=node/703 |
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