The credit crunch is affecting people who are trying to get loans for anything right now.

Even student loans are in danger.

College student Holly Smith says being approved for a student loan is crucial, “My mom works a really really crappy job and she doesn't have any help and she can't afford to do it and I can't get a job because I can't afford a car.”

That's why Smith applied for a student loan and a lot of students are in the same boat.

Financial expert Don McNay says banks are raising their standards when it comes to lending and some are eliminating student loans all together.

“There is a dry up of capital right now. It's harder to get a loan in 2008 than it was in 2007,” McNay said.

“That scares me really bad because if I can't get a loan then I probably won't be able to go to school,” Smith said.

McNay says its something government officials will most likely address if the current rescue bill doesn't pass.

“I'm sure student loans are going to be high on the list because I'm sure no one wants to make college students and their parents and anybody related, involved in that situation, angry at them during an election year,” McNay said.

Students like Smith who are waiting for a check in the mail hope it tops the list soon.

School officials tell me nearly every student needs some form of financial aid.

HCTC's Financial Aid Director Chuck Anderson says they try to help students get other types of financial aid to keep them from going into debt.