Arkansas not the only state experiencing loan credit crunch -- Updated

The Arkansas Student Loan Authority announced last week that it might not have enough money to offer college loans for the next school year. Other states are facing the same problem. Since mid-February, agencies in Massachusetts, Minnesota, Pennsylvania and Texas have announced they will stop offering federal loans. Lending groups for Iowa, Missouri and New Hampshire have suspended their private loan programs. Michigan has dropped both types of loans. Lack of money also led the Kentucky Higher Education Student Loan Corp. to announce it will not accept applications for federal loans from new students after May 1. Click here for more info.

Update: The state board of finance is considering loaning $80 million to the state's student loan authority after the agency said the sagging economy nationally has jeopardized its ability to lend money to college students. Here's more from the Associated Press.