April 4, 2008

Private Lending Market Continues to Tighten

By JJ HERMES

Many private colleges and universities are seeing access to private student loans, as well as some federally guaranteed loans, start to dry up, say two reports, which lay the blame on Wall Street's troubled credit markets.

While neither of the reports, released last week, turned up instances of students' being unable to obtain federal loans, both found that some lenders are cutting borrower benefits, tightening credit requirements, and discontinuing some types of loans.

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