In the last week or so, we've been talking a lot about how the U.S. credit crunch has sparked fears about student loan availability.
With this in mind, the country's largest student loan lender -- Sallie Mae -- announced late last week that it will be cutting certain types of student loans and charging loan application fees ranging from $35 for freshman students to a couple hundred dollars for graduate students.
Noting that one-third of the top 100 student loan lenders have left the business as a result of current credit difficulties, a high-ranking Sallie Mae official provided some more reasoning behind this decision:
• Sallie Mae to Charge for Loans to Students
Tags: credit crunch, Sallie Mae, student loans
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