Schumer wants student loan market to be protected

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.

Tags: sen charles schumer,private loan programs,government loan program,federal reserve chairman,bailout plan,financial upheaval,credit crunch,charles schumer,hank paulson,tight credit,school loans,loan market,treasury secretary,york senator,tuition costs,private school,federal reserve,student loan

Tuesday, October 07, 2008 |

---