College Applicants Adjust to Weak Economy

In this lingering recession, student loans are more important than ever, and many college applicants are looking for low-cost ways to get a higher education.

As they face looming college application deadlines in a soured economy, many families are grappling with how personal resources and financial aid could affect decisions on college.

The economic downturn, with parents' job losses and investment declines, is adding an extra layer of anxiety to what can be a stressful chapter of family life even in a booming economy.

"It is the most uncertain college admission year we have had in a very long time," said Terry Hartle, senior vice president of the American Council on Education, a higher-education group based in Washington, D.C. "I think it's a very worried and troublesome time."

As a result, many California students are giving up their expensive Ivy-League dreams and looking closer to home, at more affordable state colleges and universities.

Source: LA Times