Appeared on December 21, 2008
It could be cheaper to borrow money for college, now that the Federal Reserve is working to free up long-term borrowing. The Federal Reserve announced plans to buy up long-term securities in an effort to lower rates for long-term borrowing, including mortgages and student loans. Mortgage rates have already dropped and David Becher, associate professor of finance at Drexel University’s LeBow College of Business, says it should help students if they have good credit: