Company reinforces its commitment to career school industry
Floral Park, NY, 1/29/2008 - In response to the current trend of student lenders terminating programs aimed at credit-challenged students, TFC Credit Corporation announced today its intention to remain committed to continuing all of its student financing programs, including those supporting sub-prime students and recourse lending.
“We will not scale back ANY of our programs, nor cut back on any of our school clients, large or small” pledged Sean Steinmarc, Vice-President of TFC Credit Corporation. “Our commitment to provide financing to all students, including those with less than standard credit; to provide consumer–friendly financial options to all students and schools and clients new and old; and to offer flexible and beneficial recourse plans to schools will remain unchanged despite the shake-up occurring in the student financing marketplace.” Steinmarc continues, “TFC has successfully served this sector for 38 years and will continue to provide the same great service as always.”
The announcement comes at a time when many lenders are significantly cutting back on their programs, severely impacting the ability of schools to sustain enrollments. In their recent call to action, the Career College Association (CCA) noted that if left unchecked, “the [student lending] situation could foreclose access to higher education for thousands of borrowers.” According the CCA President Harris N. Miller, “Access to private lending is absolutely critical for many working adults to bridge the gap between federal grant and loan program limits and actual program costs.”
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