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Paying for college becoming more difficult

READ MORE: Paying for college more difficult
Sending kids off to college is a proud moment in many parents lives, however the nation's credit crunch could be making it more difficult to afford. Nadine Boltz hopes to send her 17 year old daugther Lelani to UNC Wilmington next year. Boltz was able to put her eldest son through college with little sacrifice, but with her husband's health condition and Lelani now a senior in high school, the family's finances are stretched thin. Boltz is like many parents with college bound kids who have been affected by the economic downturn. “At the state in my life I thought that I would be a step ahead whereas I feel like I'm struggling even more now,” Boltz said. Adding to the financial burden is the likelihood of taking out a student loan. The main problem now is the crisis on Wall Street Ben Kittner works for College Foundation of North Carolina. The organization offers financial assistance to students hoping to go to college. One of the most common forms of assistance is through federal Stafford loans. CFNC relies heavily on wall street for financing, but the demand for college loans and the credit crisis makes it harder for investors to put money in to student loans. “Fortunately the government is taking some action to ease the credit crunch and hopefully it will work,” an optimistic Kittner said. The action Kittner refers to is the 700 billion dollar plan to rescue the nations economy. The federal governments’ interest rate on student Stafford loans is at 6.8%. Before the wall street shake up, CFNC subtracted 2.5 percent off the rate to ease cost for parents and students and that is no longer an option. “It means that we're working hard to make sure that there's plenty of money, enough money to students that are planning to go to college and that's our number one concern. In order to do that we are reducing the number of discounts or benefits that we currently offer at least temporarily,” Kitter said. CFNC officials said that there are scholarships and grant money available in addition to loans on their website.

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hope the situation changes by next year

Getting a loan has become harder these days, that's true... Well, I hope my daughter Kelly will enters a good college next year too, and I strongly believe the crisis would soften by that time.

if you honestly think that

if you honestly think that this financial crisis will be over in a years time you are extremly niave. I am only 20 years old and currently attending a university and even i know that our nations financial problems will not just disappear that quickly.

NC financial aid

North Carolina uses state funds for financial aid to help the most students they can. The state uses a variety of scholarship/loans to give students a starting point when it comes to money for college. North Carolina financial aid

There is always "online

There is always "online college" or yes learn a trade. There are already too many tree huggers out there as it is.

As it should be

Not EVERYBODY needs to or should go to college. If you can't afford it on your own, win a scholarship, or arrange financing, learn a trade.

I have a master's degree, I

I have a master's degree, I and I agree 100%! There are plenty of well-paying jobs with security that require no education. Young people are better off learning a high paying trade than floundering around in college getting a worthless degree, as many degrees are. It is a myth that you can go to college, and get any degree and find a good paying job.

JGW123, please name those

JGW123, please name those jobs that pay well, offer security and benefits that require no education. Thanks.

Job security and great benefits without college

I'd head over to 3715 Patriot Way. They have four areas of specialization, with many, many different jobs offered. The benefits are fantastic! Free medical, free life insurance, and thirty days paid vacation every year.

Education Costs

The lottery proceeds fund education in what way, buildigs and staff positions? Where is the money from the lottery going?

Lottery Scholarship Funding

The North Carolina Education Lottery in the most recent school year (2007-2008) provided scholarships 29,492 students. The total of the scholarships was over $35 million dollars. This year (2008-09) we project even more recipients and more dollars awarded. Students apply for the Education Lottery Scholarship, along with other North Carolina need based aid programs, simply by filing the "Free Application for Federal Student Aid" (FAFSA) and listing an eligible North Carolina college or university. No separate application is required. Scholarships represent about 10% of total lottery funding for education in North Carolina.


There is very little funding coming into this area from the lottery. You can check with your county finance office to see how much money your county received but I can almost guarantee that any money that they are getting has gone to funding the failures of NO CHILD LEFT BEHIND...