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Debt consolidation companies offer help for parents who want to consolidate student loans. Lines of private counseling are opened.

According to the information presented by the US Department of Education, 25% of students attending for-profit schools have defaulted on the taken student loans. In fact, it turned out that the level of default on student loans is higher for students attending for-profit, private university. And only 11% of students attending public school have defaulted on their loans.

The main problem concerning student loans consists not only in the fact that education is more expensive than ever, but also the factor of recession plays an important role as it's really the hardest time for college graduates who find it really difficult to get decent employment and earn enough for their loans repayment.

Restrictions concerning the credit card marketing to college students were performed as a part of the Credit Card Accountability, Responsibility and Disclosure Act provisions.