Dozens of lenders that college students depend on to pay for their tuition have pulled out and that's left students and their financial advisors waiting to see what happens next. We talked with an official at the Southeast Kentucky Community and Technical College and she says she's hopeful students can find the money they need but thanks to the nationwide mortgage crisis, it's going to be a lot tougher for students.
Brent Johnson says he beat an addiction to drugs, graduated from drug court, and is now making straight A's in business school but he fears he might not be able to continue paying for business school.
"With fuel prices going up, it's really a struggle trying to stay in school, afford bills, then books, summer school," Johnson said.
More than 90 percent of Southeast Kentucky Community and Technical College students get by with the help of students loans, but the largest lender, the Student Loan People, has stopped loans.
"They made it easy for students in Kentucky, such a service to them, so we'll have to go outside of that now," said Rebecca Parrott-Robbins with Southeast Kentucky Community and Technical College Student Affairs.
"It's a huge concern for me because I'd love to finish my education," Johnson said.
Financial advisors say the best thing students can do right now is keep in close contact with their school's financial advisors which should help them find loans through other lenders but they say it could still cost them in the long run.
"You have over 60 that's opted out and that scares other lenders, that increases interest rates, fees, and of course is a higher payback for the students," Parrott-Robbins said.
And that's leaving students like Brent Johnson concerned.
"And even if I go into a four year school from here, where can I go? Can I get the money to go? Will I be able to go," he asked.