In a response to reports that some lenders have stopped offering loans to students at community and other colleges, two congress members introduced a bill that would prohibit companies from "selective" lending--offering loans to only those who meet a certain economic and educational criteria. Many financial aid officers criticize this practice as weening out those with the most economic need and Senators Patty Murray (D-Washington) and Christopher Dodd (D-Conn) intend to stipulate that loans backed by federal tax dollars need to be available to everyone.
Check out the entire article at:
http://www.nytimes.com/2008/06/18/business/18loan.html?ref=education
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