FAP750: Private student loan quandary, credit crunch

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Student Financial Aid News
+ Mark Kantrowitz published a large list of lenders who have exited the student loan business, and it’s pretty sobering.
+ I’ll do my best to keep you posted about changes in the lending industry, but in a sign of how severe this is getting, the Secretary of the Department of Education is asking schools to report any instances of federal student loans being denied to students because the bank has run out of money.
+ Inside Higher Ed: Starting this fall, any student can get a free MacBook. All he or she has to do is apply, get accepted and decide to attend Oklahoma Christian University.
+ The cost is mostly built into the tuition price, of course. The university has provided PC-based laptops to its students since 2001, encouraging professors to integrate technology into the classroom and let students learn through online or hybrid course material on their computers. The laptop program has other advantages, too: the university offers software and hardware support on site, complete with loaners for those with computers in the shop. Now, Oklahoma Christian is following a “natural progression,” said John Hermes, the chief technology officer, by switching entirely to Macs.

Scholarship Search Secret
+ Put deadlines in your searches

Mail Bag
+ David wrote in a very long, informative email about a situation he’s in with private student loans
+ Private student loan consolidation can postpone the inevitable to a degree
+ Ultimately that loan must be repaid
+ Contact a bankruptcy attorney to see if there’s some way to get your cosigners released from the loan

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Reminders
+ Financial Aid Podcast Show Notes at FinancialAidNews.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ FAFSA tutorials and free help

+ Stafford loans | Other federal student loans
+ Student loan consolidation at StudentLoanConsolidator.com
+ Private student loans
+ The Financial Aid Podcast is a publication of the Student Loan Network.