If you’re in the market for a student loan, there's more federal funding out there than you may think. You may just have to look a little harder.

Tuition at private universities has skyrocketed over the past 20 years, increasing at twice the rate of inflation, but over the last few months a number of elite institutions have unveiled plans to make college more affordable for undergraduate students.

The steadily rising costs of higher education – roughly twice the inflation rate – makes it  a permanent part of the iron cross of American worries,  joining concerns about retirement, health care and jobs.

With the credit crunch likely to grind on for some time Washington is dusting off a lender-of-last-resort plan to provide for an uninterrupted supply of government-subsidized college student loans.

One of the nation’s largest student loan operations announced Wednesday that it would suspend making federal-guaranteed loans starting early next month.

The college admissions process can be incredibly stressful for both students and parents, so many have turned to consultants for advice. And the best counsel, it seems, is for teens to remember that less is more.