SLA Flash Survey Finds 58% of Financial Aid Administrators Concerned About Availability of Private Loans

Here are the complete results:  Download SLA_Flash_Private_Loan_Availability_061109

Here are the highlights of SLA's recent flash survey on the availability of private student loans:

• Overall, 58% of survey respondents are either Very Concerned (14%) or Somewhat Concerned (44%) about the availability of private loans, with 4-year private institutions showing the highest of concern
• 56% of survey respondents will be providing their students with lender list for private loans for the 2009-10 academic year.
• The top four reasons given for not producing a lender list were:
  • Do not want to encourage use of private loans
  • Too much time required to complete RFI process
  • Too much time required to maintain lender list
  • Lack of clarity with regulations
• The top three third-party sites provided by schools linking to private loan information are:
  • Finaid.org (64%)
  • Student Lending Analytics (38%)
  • Simple Tuition (31%)
• 53% of respondents believe lender approval rates on private loans are either Much Lower (7%) or Lower (46%) than last year's approval levels