State lawmakers are asking questions about how the subprime mortgage crisis is impacting students who are applying for college loans.
The General Assembly's Banking- Higher Education and Employment Advancement committees hosted a forum to learn more about changes in the student loans market.
State Commissioner of Higher Education Michael Meotti was one of the speakers.Â Meotti says so far, Connecticut students have encountered few problems when applying for college loans. Â
"You know there are still changes in interest rates, there are still problems with the user friendliness with some of the forms and the processes and systems that are imposed by federal regulations and financial institutions, and a host of other issues that can be addressed, but the bottom line is that we're not sitting here today in an environment in which there are students who cannot enroll because of the financial turmoil that was so much discussed last late winter and early spring."
Meotti says increasing grant opportunities would help students and families afford higher education.
Chair of the Legislative Banking Committee Senator Bob Duff says one of the concerns is that some parents are having trouble obtaining student loans from private lending firms, versus loans that are offered by the state and federal governments.
Duff says the forum would help lawmakers decide whether any legislation needs to be introduced to help this issue.