Question: economy and student loans?

[javasaurus]

Does anyone know how the economic downturn and lack of banks' lending ability has affected student loans? Will fewer people be getting an education in the coming year because of this?

Comments

[blueeowyn.livejournal.com]

Fewer people will be getting an education (or being more in debt) for a number of reasons.
1) The people who had funds in an educational trust for kids who are going to college now (or will in the next year or so) are screwed.
2) Because of an increase in default on student loans (going back a few years), there is less money in the student loan arena thus fewer loans
3) Because of stricter regulations on giving student loans, fewer people will qualify for them
4) Because of the bad economy, sales are down and states are having budget troubles which means cuts for Higher Education ... which increases tuition and decreases access
5) Because of shipping charge increases (because of the gas prices); textbooks and other normal things are going up (which again affects everyone but really can hit a marginally financed college student)
6) Because of cuts, there may be fewer jobs available ...
7) Scholarship money from endowments is also likely to be affected by the collapse