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For years, college students and their parents have relied heavily on credit cards, home equity, and private loans to pay for school, according to a recent survey provided exclusively to BusinessWeek. But those sources of cash are drying up. On Aug. 6, Wachovia (WB) joined the more than 150 financial firms that have fled the private student-loan business. And Morgan Stanley ...

With lenders dropping out of the business due to credit-crunch stress, students and their parents should study up on these options… [photo:17198] Families struggling to pay for college need all the help they can get. With lenders who are spooked by the credit crunch abandoning the business, borrowers seeking loans for the coming academic year may encounter problems, including higher interest ...