Uncertainty in the economy, is not only affecting people with home loans, investments, and 401K's, but what about college loans? Are financial institutions able to loan to students? 

That question is popping up at colleges and universities across KELOLAND. One local college is addressing these concerns. 

If college students in KELOLAND are worried about money for school, Augustana officials say they shouldn't. That's because they feel that students in the Midwest are not feeling the economic backlash that larger cities may be feeling.  

The President of Augustana College sent out a letter to the parents of students. In it, the President reassures that students are able to borrow the money they need for school.


"Our students have had no problems at all, those that are here, at Augustana have been able to access these credit markets, we've not heard any concerns,” Bob Preloger, Augustana College Vice President for Marketing and Communications, said. 

A memo to parents, stating not to worry about student loan availability was sent out earlier this week. 

"So many people hear about what's happening on the coast and with all the credit markets across the country, we wanted to assure them this is the Midwest, we've got some of the strongest financial institutions in the country,” Preloger said. 

Preloger says this is a preventative step to let parents know that despite what they hear nationally, students are getting the help they need here. The memo states that our banks are strong here and that education is a long term investment. 

"Anytime you talk about college funding it's always an important thing for parents to realize how we can make this work,” Preloger said. 

According to national studies, people who have college degrees can earn around 8-hundred-thousand dollars more over a lifespan than someone who does not have a degree.