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Price tags on higher education are only going higher and the recent credit crunch isn’t making it easy on students who are starting college. Since most students will require financial assistance for college, there are reports that lenders are making it harder to get good loans. Banks are making the requirements stricter, interest rates higher and credit lines smaller.
Add this to the fact that schools have changed the way they dole out scholarships and financial awards and it’s enough to give any student or parent a headache. There are things you can do to help your situation, such as shopping around more for a better deal or negotiating with the financial aid office.
It may all seem complicated, but experts advise that taking time to figure out your college finances is your best bet. Hmm…maybe your parents were right about getting that accounting degree. [Wall Street Journal]