The Student Loan Landscape is Changing Fast
May 26th, 2008 by
Many colleges seem to be turning away from private lenders says a recent article in the Wall Street Journal. Why you ask? Well, they are considering the offerings of government program for student loans instead. The Wall Street Journal also noted that many private lenders work within the FEEL Program Frame Work (Federal Family Education Loan) in order to guarantee the loans. Apparently, the loan default rate is about 5%, but due to special programs to teach kids financial responsibility some private loan companies have gotten that default rate as low as 2%.
