Financial Crisis Causing Students To Drop Out

Rheannon Gustafson could be a harbinger of things to come. Even after receiving federal loans, the 19-year-old freshman from Salem still owes about $3,200 for tuition and expenses at Winona State University in Minnesota this semester. Her parents can't afford to fill the gap. Neither Gustafson nor her parents can get private loans, because lenders have tightened standards during the credit crunch. Gustafson couldn't find a job near school that could cover the bill. This perfect storm of economic circumstances has caused Gustafson and her parents to decide she's dropping out after her first semester. While enrollment at many colleges appears to be holding steady, some administrators are preparing for a coming wave of students like Gustafson. Read more at:
http://www.jsonline.com/news/education/35266854.html