COLLEGE LOANS - 2009
Facts About College Loans
By
Gary E. Carpenter, CPA, CCPS
Copyright 2009
Updated May 31, 2009
2
Gary E. Carpenter, CPA, CCPS
Biography
Gary Carpenter is a Certified Public Accountant (CPA) in New York
and a Certified College Planning Specialist (CCPS). He is the owner
of College Planning Services and co-founder of the CollegeLOAN
Evaluator. Mr. Carpenter has also provided continuing education
courses in the area of college planning and financial aid for various
state CPA societies, the New York State Bar Association and the
Financial Planning Association of New York. He is co-author of
College Financial Planning for Any Income Level and has been
quoted in Kiplinger’s Personal Finance, AARP Magazine, MONEY,
Financial Advisor, and on MSNBC and CNBC. He has had over thirty
years experience in tax and financing and has spent the past ten
years in college planning and consulting. He is a member of the New
York State Society of Certified Public Accountants, the American
Institute of Certified Public Accountants and a co-founder and the
Executive Director of the National College Advocacy Group. He is
active in committee service for the New York State Society of CPAs
and serves on the boards of several non-profit organizations.
Gary E. Carpenter, CPA, CCPS
Telephone: 315-487-4567
E-mail address: gec@collegeloanevaluator.com
3
2008 has finally come to a close and many of us are hoping that 2009 will bring a
more friendly environment for student loans.
In 2008 we saw the impact the subprime mortgage crisis had on student loans as
lenders began to withdraw from the market. Families were, and still are
concerned about the availability of student loans and some of those concerns are
justified.
Under Federal Student Loans we have two programs: the “William D. Ford
Direct Loan Program” (Direct Loan Program) and the “Federal Family Educatio