The Credit Crisis and Higher Education

The US economy is struggling amidst a mortgage and credit crisis. Banks and lenders are failing left and right. And Congress has been contemplating a bailout package of $700 billion. To say the least, times are uncertain and and the economy is on the rocks.

But what does this mean for college students and our way of life? I am no finance expert, but my understanding of the issue is that we must act to save our banks. Our way of life relies upon credit for funding mortgages, small businesses, cars, and education. So, if the economy falters and credit is limited, our way of life could significantly change.

Of course, state support for our institutions will inevitably be at risk with advances in the credit crisis. Many of our buildings are funded through bonds which rely on credit. And, our state support for tuition and operating budget relies on tax receipts, which could be significantly affected with a failed economy.

I have provided a few resources for you to review the current proposal:
- Congress set to revise proposal
- C-Span with Coverage of Fiscal News
- Contact your legislator to let them know your thoughts

What are your thoughts on the credit crisis? How has it affected you? What are your thoughts on the $700 billion bailout?