The Dow has officially fallen bellow 8,600. That is the lowest it has been in 5 years. It is also the one-year-anniversary of its all time high. Holy crap. What is happening to our economy? Hopefully we won't have people jumping out windows like we did the last time the stock market had a big crash.
Because I am 20-years-old, I cannot say that I have a fortune invested in the stock market and I am not currently worried about losing thousands of dollars. I am concerned, however, about student loans. With banks having such problems lately I have to question how I, and my fellow students, will get their loan money.
Talk of the drastic drop in numbers is all over the news, you would pretty much have to live in a cave to not know about it, but something on CNN today caught my attention.
Banks, such as Wells Fargo, where I recieve my loans are getting tighter and tighter about dishing out student loans. Is this going to mean higher interest rates for students? That'll be just great, add a little more money to that debt we'll graduate with.
I'm not going to whine about tuition costs and student fees today because I do know that SDSU is much cheaper than other universities in the country. But, high tuition or low tuition, money has to be loaned out students. When I applied for my loan it was a fairly easy process. Have your parent co-sign, get approved, no big deal. But what happens now?
Don't ask me how the economies problems are going to be fixed, I honestly have no clue, but I know I will keep a closer eye on the status of my loan bank.
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