Student Loan News

Career College Association Fears For BorrowersThe association representing for-profit colleges expressed growing alarm that many of its students will no longer be able to pay for their educations, especially in the wake of announcements that student lenders have backed away from serving subprime borrowers.The Career College Association said a survey of member institutions found that more than one-third of respondents said lenders have stopped offering private loans to students at their schools and two-thirds were worried about the ability of students to obtain loans, whether FFEL (Federal Family Education Loan), Direct, or private. The CCA web-based survey results, conducted this month, reflect responses from more than 60 education corporations and institutions educating tens of thousands of students.