Schumer wants student loan market to be protected

Tools

Schumer wants student loan market to be protected

Story Created: Oct 6, 2008 at 1:24 PM EST

Story Updated: Oct 6, 2008 at 1:24 PM EST

NEW YORK (AP) - Sen. Charles Schumer says particular attention needs to be paid during the current financial upheaval to make sure the student loan market is protected from the credit crunch.

The New York senator warned Monday that a tight credit market brings difficulties for students and their families looking to get private school loans to help cover tuition costs.

He sent a letter to Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke asking that they pay particular attention to the student loan market as they go forward with the bailout plan approved last week.

He also called for a commission to review the government loan
program to make sure there are enough resources for students if the
private loan programs dry up.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

User Agreement

View comments

The following comments do not necessarily represent the views of NBC-WKTV News Channel 2. Users have agreed to these terms and in doing so accept full responsibility for their comments. Moderation is limited.

Monday, Oct 6 at 4:08 PM amazed wrote ...

Yea...lets listen to Schumer, his name is mentioned a lot about who got us into this mess to begin with!

Flag for moderation

Monday, Oct 6 at 2:26 PM I Love Schumer wrote ...

Chuck we don't need your help, please stay out of this process. Maybe tuition prices will go down?

Flag for moderation

Add a comment

Name:

Comment: 500 Characters Left

Comments are moderated and will not appear on this story until after they have been reviewed and deemed appropriate for posting.

NBC-WKTV News Channel 2 and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

I have read and agree to the terms

Hide comments

Weather On Demand

Weather Radar
Icon
Current Temp 39 °F
Mostly Cloudy
Wind : From the West at 15 MPH
Humidity : 73 %
Pressure : 30.03" (1017.3 mb) in.
Wind Chill : 31 °F
More Weather

On Demand

AP Video

Stock Quotes

Permanent Client link holder

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Viewer Poll

Who do you feel should replace Hillary Clinton as a U.S. Senator?

  • Attorney General Andrew Cuomo
  • U.S. Representative Kirsten Gillibrand
  • U.S. Representative Nydia Velazquez
  • Someone else you feel is more qualified

What's On