The student lending crisis is an issue that is impacting every current and potential college student nationwide.
Dozens of lenderscomprising at least 13 percent of the student loan markethave stopped offering federally guaranteed student loans over the last few weeks. Recently, Senator Ted Kennedy introduced legislation aimed at making it easier for students to get the money to pay for collegeexpanding eligibility and increasing borrowing limits for federal loans.
According to West Virginia University President Mike Garrison, WVU is one of over 1,100 schools nationwide who participate in the William D. Ford Federal Direct Loan program. WVU students and parents who participate in this program borrow loan funds directly from the United States Department of Education and not from private lenders.
Garrisons latest blog addresses the dwindling availability of student loans for college costs and looks at how WVU students may be affected by the student loan crisis.