From Starbucks to foreclosures, the American economy is taking a nose dive unmatched by its recent past.
The university students of Massachusetts are now facing more hurdles to success. This is just more of the same in sequelae of Bush's Fiscal Disaster !
Student lender won't have loan money this season (kindly click on title to entry)
July 28, 2008 11:16 AM
The Massachusetts Educational Financing Authority today said it will not be able to provide any student loans this fall, which could leave tens of thousands of families in the lurch just weeks before college classes begin.
The nonprofit lending authority said it was unable to secure funding to provide private student loans. It is contacting more than 40,000 students and families to whom it has made loans in the past, to urge them to seek other options.
"As a result of our problems and the continued dislocation of the capital markets, we have been unable to raise funds for the coming academic year,'' said Thomas M. Graf, executive director of the group....
