Carlsbad, CA (PRWEB) February 6, 2008
StudentLoanCenter.biz, a growing federal and private student loan services exchange, has heard some concerns over cuts from one of the major college lenders. The student loan network wants potential borrowers to know that despite this news, they can still get a private or federal student loan from a variety of sources to help pay for their college education.
One of the major student loan providers, Sallie Mae, announced on January 29 that they would no longer be offering loans to students with sub-prime credit scores, according to The Collegiate Times. "As a result of the impact of the College Cost Reduction and Access Act and the deterioration of the credit markets, Sallie Mae is discontinuing certain non-standard private education loan programs," said Tom Joyce, senior vice president of Sallie Mae corporate communications. "We are also in the process of adjusting our underwriting criteria and pricing of our private education loans to reflect the current financing and market conditions."
Sallie Mae attributes the decision mainly to the crisis in the housing market, which has tightened lending standards in all segments of the financial community. The College Cost Reduction and Access Act, which increased the Federal Pell grant by $11 billion, also reduced federal subsidies to many student loan providers.
StudentLoanCenter.biz wants current and future students to know that there are still loans available to help them pay for college. If a federal student loan isn't available, there is still private student loan money available. And when the bills start getting out of control, there is also student loan consolidation available to help manage college debts.
For more information, go to http://www.studentloancenter.biz.
About Student Loan Center:
Getting through college is not an easy job and it gets even harder when money is a problem. The team at Student Loan Center believes that each student should worry only about learning, and that everyone deserves some type of financing in order to make college easier. Getting a financial loan is the key, but first it's necessary to know a few facts about the process. The StudentLoanCenter.biz Web site was created for every student that needs help with financial loans. They can provide information about different types of financial loans, and can help each student make the right decision. Any person that has an Internet connection can check their articles about student loans for free. This is one of the easiest ways to learn more about education loans.
The team at Student Loan Center created this Web site to help students get through college without any help from parents or traditional loans. It's possible to get a large loan at a low interest rate, and finish college without having to worry about money. They have the experience necessary in this field to help with information about repayments or interest rates. This Web site was created by a team of dedicated professionals to make the whole process of getting a student loan much easier. The first step towards getting college financing is information, and it's easy to find at StudentLoanCenter.biz.