Brazos, a major player in the student loan industry in the southern US, based in Texas, announced that it will stop student lending.
The wave of student lenders backing out of giving federally backed student loans is growing.
Monday, 33-year old Waco, Texas-based Brazos Higher Education Service Corp Inc. became the latest to suspend making new loans to students for the 2008 academic year. Brazos joins a list of at least 26 other lenders that have stopped providing loans through the FFEL, or Federal Family Education Loan program, due to developments in the credit markets, according to a list compiled by the student financial aid publication Finaid.org.
"We cannot finance anything in this market," says Ellis Tredway, executive vice president of governmental and ...
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