College is often referred to as the “best four years of your life.”
Parties, all-night cramming for exams and everlasting friendships all make up the years spent in life after high school. However, debt and loan issues are ongoing and plague students years after crossing the stage at graduation.
With some companies dropping out of the college loan market, some students are being left without a loan provider.
A month ago, College Loan Corp. dropped from the federal loan market, and as a result, students across the country are being forced to find a new lender.
CLC’s withdrawal from the market is leaving those who pay the loans in an unfair situation.
Five TCU students are already beginning the search for a new loan outlet. These students are being put into a tough spot and are being forced, in a shrinking market, to seek out new lenders to pay for an education that is already underway.
CLC still provides private loans, but a student with weaker credit might not have this option.
Reasons for the change in the loan market can be attributed to congressional changes that have taken place over the past year.
Although fingers cannot necessarily be pointed to one source, there is a problem in the college loan industry that needs to be remedied for the sake of those paying their way to a higher education.