College Applicants Clamoring for Student Loans

College tuition prices have risen 8 percent in the last year, according to the College Board. With the cost of higher education likely to increase even more in the coming year, college applicants are clamoring for student loans:

"Loans give students an opportunity to be free from their parents," sophomore Brittney Pickard said. "It gives students a chance to build their credit after they graduate."

The economy's turmoil and the involvement of the main financial student loan giants, Fannie May and Freddie Mac have been thrust into a financial black hole that threatens to suck its patrons. The Department of Education passed legislation in May for the federal government to help student loan providers stay afloat in the financial showdown. Programs such as ECALSLA- Ensuring Continued Access to Student Loans- have been implemented in Georgia to stabilize the shaky market and were recently extended to 2010. Panicking students have looked to the GCSU Financial Aid Office for guidance.

Read the article at The Colonnade.