Turmoil in the financial markets has driven many lenders out of the student loan market, leaving students struggling to pay their fall tuition. That’s a problem that New Hampshire officials are working on.
Mark Connolly, director of the state Bureau of Securities Regulation, says his office has been engaged in discussions with some of the participants who have been involved in securing the loans in New Hampshire.
He says if that’s not achieved, the state will take regulatory action.
Last month, the Massachusetts Educational Financing Authority, said it would not provide private loans this year because of turmoil in the financial markets. That’s affected about 650 New Hampshire college students.
Also, the New Hampshire Higher Education Loan Corporation said it was suspending its private loan program because of market conditions. That affected more than 6,000 students.