We are now accepting submissions for the blogging scholarship, and the submission deadline is October 30th, 2008. One lucky blogger will be eligible for the $10,000 grand prize.

Our panel of judges will decide on 10 finalists and public voting will be enabled the morning of November 3rd. Voting will be closed on November 17th 2008. During this time, check our blog for announcements, updates, finalists, and voting information.

The Daily Record highlighted that the popping of the credit bubble has left many banks extremely under-capitalized, making them much more risk adverse and tightening their student loan standards. In addition to tighter standards, less loan providers leaves students limited options.

In response to the slowdown in what was once a $14.5 billion dollar private student loan sector, some schools have shifted resources from merit-based financial aid to need-based assistance.