Rising tuition fees, coupled with the weak economy, makes it tough for anyone to afford college.
According to the College Board, the average annual bill to live and attend school full time at a four year private institution was more than $32,000 last year. That is $13,000 more than it was just ten years ago.
Nationally, 8.9 million students filed for aid during the first half of 2008. That is a 16.3 percent increase from last year.
The chaos in the financial markets has driven many lenders out of the student loan business altogether, leaving students looking for help wherever they can get it.
College life comes at a cost. Student, Koedy Brant told Action News, "I don't have enough money to pay for my college. I got thousands of dollars in scholarships and Cal grants and federal aid, but it was still not even close to being enough."
That is why many college students apply for loans. But these days getting a loan is getting tougher.
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