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Students Rely on Federal Loans to Pay Rising Tuition

More college students are relying on federal student loans instead of increasingly scarce private ones as tuition costs continue to rise, new data indicate. According to reports issued Tuesday by the College Board, the volume of private student loans — those not made or guaranteed by the government — fell by 52% in the 2008-09 school year as recession-battered lenders tightened credit standards or abandoned what had been one of the fastest-growing sectors of the financial-aid market.

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Publish date: October 23, 2009