Several people want to know if the slow economy is impacting student loans.

"Daily we hear something that in most cases are negative in terms of loan options for our students,” said Glenn Shumpert, Director of Financial Aid at USC Aiken.

That's not good news if you need help paying for college.

Shumpert said the slow economy is to blame.

"The mortgage crunch did spill over into the student loans very much...I mean directly, so there was really concern that we might not have any lenders to help our students,” said Shumpert.

The federal government, through the U.S. Department of Education, cut a lot of the profit margins and insurance for lenders...giving them little incentive to stay in the college loan business.

"What we found out is that lenders who we could count on for our students actually bailed out of our student loan programs,” said Shumpert.

And he said the programs that have remained had to reduce some of their payment options for students when they go into repayment.

Shumpert also said students need to have a "buyers beware" attitude when they search for student loans.

But he said getting one isn't impossible.

So how can students make sure they get the most bangs for their buck?

“The financial aid office is your best resource for referring them to the best loan options,” said Shumpert.

Before you can even get student loans, you must fill out a FAFSA or Free Application for Student Aid.

Some colleges no longer have the application in paper form.