November 17, 2008

Survey Finds High Rejection Rate on Applications for Private Student Loans

By Eric Hoover

Nearly half of applicants for private student loans are denied, according to a new survey by FastWeb, a free online scholarship-matching service.

The survey, whose results were published on Friday, also found that more than half of those families who apply for federal Parent PLUS loans (56 percent) or commercial home-equity loans (54 percent) to help pay for college do not obtain them.

FastWeb held

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