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Last Minute Student Loans ...Online

Boot Camp feature for Monday, August 20, 2001

Last minute money for college. Bloomberg Boot Camp, a report on today's technology. It's a Web site that will originate three billion dollars worth of college loans this year. Citigroup's StudentLoan.com... .

"We think that the Internet is a fabulous tool for families to be able to plan and afford the college of their choice. We launched our site about three years ago, but each year we've been upgrading content."

StudentLoan.com Chairman Bill Beckmann... .who says for students who will be high school juniors or seniors this year... there are tools for planning... .

"How do you month by month, for a couple years before you enter college, look at the school, budget for that education, see the resources that may be out there such as scholarships. And then, finally, since school has gotten expensive, plan for loans. And we'll take people step by step how you do that."

Beckmann says no matter what a family's income level is... .money can be available... .including low interest private loans that don't have to be paid back until after graduation. Is it too late for the new school year?

"Absolutely not. Clearly, it's a little bit late for planning and saving so the process now is how do you get the resources you need to afford the school of your choice. In my view, the first step should be the financial aid office of the school you're attending. They have professionals whose sole job it is to help you afford that school"

StudentLoan.com Chairman Bill Beckmann. Bloomberg Boot Camp, I'm Fred Fishkin.