College Loans Crunch Time

This is a nerve-wracking time for Massachusetts' college-bound students, as they wait for what they hope are acceptance letters and emails.

As well, they now face an added worry: how to pay for school. Tightening credit markets are now affecting the student loan industry.

We talked about the issue yesterday with the head of the Massachusetts Educational Financing Authority. Today, WBUR's Bob Oakes turns to Tony Erwin. He's president of the Massachusetts Association of Student Financial Aid Administrators.