Private Student Loans Suffer
It is becoming increasingly hard to secure private student loans qas a direct result of the new student loan legislation that has recently passed. We have been saying this since the legislation was in early consideration but more and more is being said about it lately.
The middle class was hit the hardest once again under the new legislation because federal subsidies for private student loans were cut. What this means is that it is going to be harder to get a student loan for any student who does not qualify for the need based assistance.
Here is a link to a great article on the Chicago Tribune website that once again reitterates the problems with the legislation.
http://www.chicagotribune.com/business/yourmoney/chi-ym-started-0203feb03,1,6155987.story
