As students start lining up for financial aid for college this fall, newly passed legislation by the U.S. House may help ensure they get the loans they need.
Dozens of lenders, making up an estimated 13% of the market, recently stopped making loans under the federal student loan program.
Although other lenders have stepped in to take their place and students can receive loans directly through the Education Department, some students relying on private loans are having trouble getting those non-federal loans.
"I'm very concerned that one year I might have to work two jobs, I'm working now two jobs, just to pay for school. And not just money for me but giving money straight to school. So I'm worried," says FAMU Sophomore, Shantia Wheeler.
"I've got a buddy working at Publix 3 a.m. to noon everyday because his loans weren't working out for him. It's kind of a bummer," says Erik Sunset, a Sophomore at Florida State.
The passed bill will allow parents to defer repayment of loans they take out until after their children leave school, which is currently not allowed.
Source:-http://www.wctv.tv/home/headlines/17914899.html |
Students financial aid