What’s News

Your condensed guide to today’s daily papers.

1208348996No loans for you: The Massachusetts Educational Financing Authority announced yesterday that it will stop issuing federal student loans due to the credit crunch. The move will effect thousands of students in the state. [Globe]

Speaking of the bad economy effects on young people: Boston’s summer jobs program for high school students is underfunded. The agency in charge of the program expects 4,000 applications for only 500 jobs. [Globe]

Bad for business: Small businesses are also having a hard time finding credit as banks tighten their belts. [Herald]

City Councilor Sam Yoon takes on Scientology: After the Herald reported on a $20,000 Boston Foundation grant that was given to a school with ties to Scientology, Yoon called for an investigation into how deep the connections are. If you need us, we’ll be buying a fruit basket for his staff, which is about to get inundated with feedback. [Herald]