Schumer wants student loan market to be protected

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Schumer wants student loan market to be protected

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

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

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.)

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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!

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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?

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