February 29, 2008
After Lurking for Months, Credit Crisis Begins Biting at Higher Education
For several months, the subprime-mortgage crisis has hovered over colleges, its ultimate effects uncertain.
That is changing. In the past few weeks, a series of loan companies have withdrawn from broad categories of student lending, and some colleges have acknowledged sharp increases in borrowing costs.
The most severe effect may be still to come, as an unknown number of students — faced with higher costs, tougher loan conditions, and their own mortgage
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