As Economy Strengthens, Lenders Re-Emerge With Student Loans For 2010
BOSTON, Jan. 5 /PRNewswire/ -- With the second half of the 2009-2010 academic year just weeks away, hundreds of thousands of families across the country are heads-down figuring out how to cover this semester's tuition.
For most, the anxiety of paying-for-college is at an all-time high given last summer's dearth of private student loan options. With the recession and credit crunch reducing the availability of private student loans, many families were faced with the daunting challenge of covering the thousands of dollars in tuition costs that couldn't be covered by federal and other student aid.
But some relief may be in sight. Experts at SimpleTuition, Inc., the premier destination for personalized student loan research and comparison, are witnessing lenders steadily re-emerging into or reaffirming their commitment to the student lending space. As of December 2009, the number of lenders making loans available to students through SimpleTuition.com has more than doubled, indicating that there will be more private student loan choices for students in 2010 than in the past 12 months.
"The limited amount of available private student loans in 2009 presented significant challenges to families across the country. While federal aid certainly covers a significant portion of tuition and costs, many families still need to come up with several thousand more dollars to cover the full cost of college," said Kevin Walker, CEO and co-founder of SimpleTuition. "With more lenders in the market for 2010, student loans will likely be somewhat easier to find, though credit criteria remain relatively high."
SimpleTuition is committed to helping students and parents figure out how to make college affordable. Through SimpleTuition.com and TuitionCoach.com, the leading website for personalized college financial guidance, the company has helped millions of college-bound students and their families research and better understand the complicated world of college finance, from completing the FAFSA to finding the right student loans.
SOURCE SimpleTuition, Inc.