Attention students, are your loans at risk too?

This is one of the best articles I have found so far looking at the impact of the current crisis on student loans and available monies for students either in school or looking to start school soon. As a student myself, I take this crisis very seriously, and I think we all should, students and non-students alike. Plus, keep in mind that this article is already a week old, and look what has happened in the last week :(

From the article:

"It was an afternoon in May when Bill Spiers got the call. As financial aid director at Florida's Tallahassee Community College, he'd been expecting it for some time now. "Loan crisis goes to college," CNN blared. "Credit crisis hits students," The Boston Globe ran.

"Bill?" It was the local Chase representative on the line: "I have some bad news for you."

For months, like financial aid administrators around the country, Spiers had braced himself for the fallout of the sub-prime mortgage crisis, waiting for it to impact the student loan industry. "There was almost this level of panic," Spiers remembers. "People thinking, 'What's going to happen to us?'"

Now he had the beginning of an answer. Chase was cutting off federal loans to his school, refusing to lend its students money. In the weeks to come, Wells Fargo, Key Bank, SunTrust, and Citibank would all follow suit. "

Read the whole story at the link.