Rise in Student Loan Demand

Reducing bank account balances and heavy tuition fee payments are forcing the students at the University of Windsor to approach their financial assistance office in droves.

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Aase Houser, who is the director of student awards and financial aid at the U of W has said that the number of applicants for student loans has increased 30% as compared to last year. They expect to be very busy this year having lots of competition for very little money. He said that it will be a bit of a feeding frenzy.

4,200 applications for assistance has been received by the department, from the beginning of June until the end of July, that constitutes about  900 more than what were received by us during the same period last year.

It has been said by Houser that he think it’s just a reflection of the economy and the fact that families have suffered a loss of income, now it has become more difficult for students to do jobs themselves.

Moreover Houser said that despite of the increased competition for student loans, there is good news at the U of W. and that is there has been an increase in average loan amount because of new grant programs.

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