I was going to write a list of predictions for 2009 regarding the growth of
distance education. It might have been an easy prediction to believe that more people will be going to school with the economy in its current state. More people out of work should normally result in an increase in people looking to upgrade their skills and knowledge.
But not so fast! Unless you’ve been living under a rock for the past few months, you know that a lot of the problems we’re facing now have caused the lending institutions to be very tight with their money.
What this means is that if you were looking to take out a loan for school, this is just as bad of a time to do that as it is to buy a house, car, or anything else. When Congress passed the last stimulus bill, it was supposed to go toward buying bad mortgages and covering for other bad decisions that people and banks made. Instead, it seems to me that the billions of dollars that were injected into the markets went to executive bonuses and extravagant perks for people that (in my opinion) should be in jail.
The result of this mismanagement by Congress, the banks, and anyone else who got the cash (and Congress won’t tell us who got the cash) is that money for education loans are very limited.
I found a great article that outlines all this at:
http://www.newsvine.com/_news/2009/01/24/2350276-college-financial-aid-system-facing-stiff-test"The financing system for college is in real crisis," said Barmak Nassirian, associate executive director of the American Association of College Registrars and Admissions Officers. "Every one of the participants in the system is experiencing hardship — higher education institutions, states, aid donors and families all are cash-strapped."
I also found another article that will help you if you are looking for financial help:
Diligence, speed will help secure 2009 college aidGood luck to all!