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.