As a result of the recent credit crisis, many students are now worried that they won't be able to qualify for college loans. Many experts remain optimistic, saying that the recent crisis may only help students in the long run by prompting them to search for lower-cost federal loans instead of the private loans that many have been relying on until now. Some students opt for private loans since private loans applications are less intimidating then lengthy federal loan applications; although rates can be up to twice as high on private loans than federal loans.

These changes are more severely affecting the lower income adults who are trying to further their education. According to an article in the Christian Science Monitor, it's been reported that more than half who have applied for loans have already been turned down. Although schools are now taking steps to help students qualify and find loans that are suitable for them many will have to either defer from furthering there education or be willing to take on large amount of debt. It's very unfortunate that those who are trying to build a greater future for themselves are now falling tens of thousands of dollars in debt because of the high cost of education and loans. Success should not have to come at such a high cost.