Suffering the Borrowing Blues
Low-income students and students of color may have a harder time getting some college loans because of an ongoing credit crunch and tighter underwriting rules in the industry.
One Response to “Suffering the Borrowing Blues”
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February 20th, 2008 at 2:31 pm
Is there nothing the race-baiters won’t complain about? For a very long time the complaint was that minorities had a hard time getting loans because they tend to have poorer credit than Whites. Then the gripe was that minorities got higher interest rates and harsher terms on their loans because of low credit scores. Now we are back to minorities having a harder time getting loans again. Either people with poor credit will have a hard time getting the loan they want OR they will get the loan amount they want with harsher financing and terms. You can’t have it both ways and lending institutions are going to pick one of the options because they need to mitigate their risks while trying to make a profit.