| Office of Financial Aid | |
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Office of Financial Aid Phone: (504) 280-6603
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Current Credit Market and Student Loan Issues There have been a growing number of stories that families may be hearing about the potential impact of the "subprime mortgage credit crisis" on the availablity of student loans for the 2008-2009 academic year. We want to assure families that we do not forsee any problems with the availability of Federal Stafford, Federal PLUS and Federal Grad PLUS Loans for the 2008-2009 academic year. While families are always free to utilize any lender of their choice, we have identified a number of major lenders who have indicated their desire to participate in our electronic streamlined application process during the 2008-2009 academic year. Families who have previously participated in these programs will notice that "borrower benefits" have been curtailed in many instances as recent legislation mandated cutbacks in subsidies that the government paid to lenders in the Federal Student Loan Program We do anticipate that families who utilize private alternative loans to supplement financial aid awards will see changes in these programs for the 2008-2009 year. The extent of the changes will be driven by the credit history of the borrower and his/her co-signer for the loan. We have identified a number of lenders who plan to offer these loans to undergraduate and graduate and professional students for the 2008-2009 academic year. Additional References:
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| The University of New Orleans • 2000 Lakeshore Drive, New Orleans, LA 70148 (504) 280-6000 • Toll-Free at (888) 514-4275 |
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