In Downturn, Families Strain to Pay Tuition
by Jonathan D. Glater
In difficult dinner-table conversations, college students and their parents are revisiting how to pay tuition as personal finances weaken and lenders get tough. With the unemployment rate rising and a recession mentality gripping the country, financial aid administrators say they expect many more calls from parents. College administrators worry that as fresh cracks appear in family finances, they will not have enough aid money to go around, given that their own endowment returns are disappointing, states are making cutbacks and fund-raising will become more difficult.
The New York Times, 10/17/2008