Direct lending colleges rose from 851 last August to 1,156 as of August 8, 2008, a 35.8% increase, according to the U.S. Department of Education. This data was provided in an article by Marisa Schultz of the Detroit News. In a follow-up call, Marisa mentioned that she had received this information through the press group at the Department of Education. Many had expected this figure to rise more significantly given concerns over the number of FFEL lenders leaving the marketplace earlier this year.
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August 25, 2008
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