Thursday, July 31, 2008

Student loan nightmare

Walt Minnick, a financial aid counselor at Salem State College, was swamped with calls yesterday after one major lending authority announced it would make no student loans this year.

With tuition bills looming, thousands of Massachusetts students and parents are scrambling to secure college loans amid deep turbulence in the nation's credit markets, but college and university officials are reassuring families they should be able to borrow the money they need.

I'm really glad I got out of college and consolidated my loans several years ago. This must be a nightmare for students whose parents can't afford to pay tuition without assistance.