State Secures More For Student Loans

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By News 25 Staff

Story Published: Sep 7, 2008 at 6:49 PM CDT

Story Updated: Sep 7, 2008 at 11:18 PM CDT

Some help is on the way for Illinois students struggling to pay for college. State officials announced Sunday that eight Illinois credit unions are providing 100 million-dollars in college-student aid.

They add it will fill a void in the loan industry caused by an exodus of investment banks. Governor Rod Blagojevich says state-administered college tuition aid has been dwindling since 2007. That's when the subprime mortgage sector of the credit market began declining.

The replacement funding will be disbursed as Stafford loans which are available to students without a credit check.

Sunday, Sep 7 at 7:43 PM collegeloanconsultant wrote ...

The speed with which the state of Illinois recognized and solved this crisis, shows again that it is a leader in innovative college loan planning. http://www.collegeloanconsultant.com/Illinois-Student-Assistance-Commission.html

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