The credit crunch is hitting college campuses hard.

Many students and families who qualified for student loans last year may find themselves without loans this year if they wait until August to apply, according to Newton-based Simple Tuition.

Less lender participation combined with tougher credit restrictions for private loans leave families in a challenging position.

"For students and families who need to borrow, one thing is clear, they need to start shopping around now," said Kevin Walker, chief executive officer of SimpleTuition. "Borrowers need to start early this summer and allow extra time to secure student and parent loans. Money is still available, but the landscape is very different this year."