Nearly one in 10 community-college students in the United States cannot get a federal student loan, according to a new report from the Project on Student Debt that echoes previous reports on the difficulty such students face in financing their higher education. Black and American Indian students were twice as likely as other students to lack access to the loans, the new report says. The report, “Getting With the Program: Community-College Students Need Access to Federal Loans,” warns that students who need to borrow may turn to risky and expensive private loans or credit cards when federal loans are not available at community colleges.
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2 Responses to Some Community-College Students Can’t Get Federal Loans, Report Says
paievoli - October 11, 2009 at 4:36 pm
Please read my blog. http://patrickaievoli.wordpress.comIt addresses these issues. We need to create and adopt a new business model for academia.These students need a chance to go forward. This is a new generation and we need to address them in a new way to help them afford an education. Federal, state and county stimulus will only go so far. Every financial publication is predicting two more waves of financial crisis in the near future. Academia needs to prepare for them. This last one was just the start. If we are to have a future in this new economic structure we need to adapt to the culture of our students.tuition, endowments and fundraising are in major rebuilding stages that will take years to come around. We need to move forward and adapt. Too many courses are closing, too many students are getting shut out. They are the future of this country. We need to rethink how we fund academia for all. Student loans are not the answer. They only prohibit the graduates from becoming self sufficient consumers which in the long term continues the cycle. Heavy student loans lead to limited spending in the economy which leads to limited tax revenues which leads to limited funding. It is a cycle that must be broken before they are!
jesor - October 19, 2009 at 2:34 pm
I see this as a growing problem. I’ve encountered many students lately who ried their best to tough out the economy and by the time they returned to school, they had previous loans in default. Unfortunately this makes them ineligible for additional student loans and paradoxically prevents them from getting the necessary education to allow them to pay back those loans (or even putting them into deferral). On a political note, I find it funny that a company that’s in bankruptcy can take a federal loan for millions, or even billions, but a student with a few thousand dollars in debt can’t get any assistance because they missed a couple of $200 payments.