At many colleges across the nation, as administrators fret about the effects of a worsening economy, students arriving this fall will get more help securing jobs and more advice on paying for their educations. Some students will even find colleges willing to cut their tuition bills. This article reports that as banks tighten standards for private college loans, families and institutions remain uncertain about whether such incremental steps will be enough to keep large numbers of students from bailing out. Public alarm over the reported student loan "crisis" may be subsiding with last month's announcement by Education Secretary Margaret Spellings of a package for loan companies to provide safeguards for students, institutions, and lenders. The author reports, however, that the Congressional package was designed only to encourage banks to stay in the federally subsidized loan system. Largely untouched by the federal action is the less-regulated and quickly expanding market in private loans, which banks issue to students without government subsidies or repayment guarantees. Lack of government protection means many students and their families, if economic conditions tighten, may face greater restrictions and costlier terms as they seek private loans to cover gaps left by federal loans. Industry experts caution that such a dynamic could translate into problems for many colleges, especially those already struggling to help their students pay their bills.