As more lenders refuse to assist students in finding easy loans, two more schools in the United States have announced a new direct easy loan program. Purdue’s West Lafayette and North Central campuses will now offer easy loans before the next school year starts and students can start applying now. There has been a lot of concern in the easy loan market that a lack of available funding could force many students to give up their educations. However, numerous schools have stepped forward to offer their own easy loan programs to answer this issue.“Recent volatility in the national credit markets and reductions in federal subsidies available to lenders participating in FFELP have led many lenders and service providers to stop offering borrower discounts or to discontinue participation in FFELP altogether,” he said. “In the Direct Loan Program, the U.S. Department of Education acts as the lender, providing funds for Stafford and PLUS loans. Since borrowing is directly through the federal government, loan availability is not expected to be affected by credit market turmoil.“Also, since many FFELP lenders have stopped offering discounts and changes in their terms are occurring on a regular basis, the Direct Loan Program, which started in 1994, is now offering the more stable, attractive terms for Purdue borrowers.”
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