In the midst of the nation’s economic crisis, students are finding it harder to get scholarships and student loans for college.

“The banks aren’t giving out as much money. It makes it hard for kids already accepted to a good university on a loan to continue going to that university because of the economy,” Economics teacher Keith Gannett said.

People who are trying to receive scholarships aren’t getting them as easy as it used to be. Scholarship money is linked to the stock market, so when the stock market goes down, the amount of money in the scholarship fund goes down with it.

“It is hard to get scholarships because all the money towards scholarship funds is tied up in the bank,” Mr. Gannett said.

In the United States right now there are only three bank chains, who are giving out student loans: Sally Mae, Wells Fargo, and Newli. Other big banks are not accepting loans because they are not very profitable.

“Banks don’t want to give out their money right now because they don’t want to take a risk of losing all of the money,” Senior Jordan English said.

Many people think that by the time the freshman class of 2012 reaches college, there will hardly be a significant decrease in enrollment.

“The numbers in college will decrease because the circulation of money is not as good as it used to be,” Senior Tyler Woods said.

The economic crisis is going to affect everyone regardless of their credit or their jobs.

“I try to make wise decisions with my money and loans,” Mr. Gannett said. “Every American will be affected though.”

The economy is expected to be fully restored within the next five years. This is a normal business cycle and will happen to the stock market again.

“It will be okay, no great depression or anything,” Senior Kristen Cook said.