Clock's Ticking for Student Loan Applicants

The credit crunch is hitting the student loan market. And just because your school approved you for a Stafford Loan doesn't mean you'll find a bank to fund it -- unless you hurry!

That's the message for students headed off to college or back to school in just a few short weeks. Even if you had a loan last year, it's possible that your lender will not be willing to come through with money for the fall semester.

In fact, a new survey by TuitionBids.com -- a Web site that says it will allow lenders to "compete" for your student-loan business -- says that 60% of students needing loans for the fall semester don't have all their money lined up. Half of those surveyed said they may have to change their plans to attend college if the money doesn't come through.

Loan Limits Up, Loan Money Down ...