All I have to say, is if you must take out an additional private loan (For all four years), and your student is new, fresh out of high school with this new change, community college will definitely see a major all time enrollment by next year. Even with the scholarships and gift aid awards, my hands are still tied. It’s a private school so it’s more expensive but it fits what my child wants to do.
But if you have to take out double loans, again ALL four years… It is really worth it?
Parent plus loan caps may have just stopped my child from being able to attend 4 year college right after HS.
byu/Party_Use4138 inStudentLoans
Posted by Party_Use4138
11 Comments
This. And the new definitions of ‘professional’ and ‘advanced’ degrees and the like an limitation placed on them. Places med school, nursing, physical therapy, and many other degrees out of the reach of all but the very wealthy. I’m so disgusted.
You’re the parent. It’s your job to set your child up for adulthood which includes guiding them to an affordable college option.
If your plan was parent plus loans and the new limits are what stops you, you should be extremely grateful that the limits are there – you’ve just been stopped from ruining both of your lives.
Utilize jr college like you should
They can also take a year or two away from school to start work. There are non-retail jobs out there who will hire anyone who can show up on time and follow directions, and I know of several who will provide tuition reimbursement after a year of employment if you can make your school schedule work with the job.
Good.
4 years from now your kid would be on here getting advice about not paying the loan back because it’s not in their name leaving you with the bill.
And you’d be on here saying you’re drowning due to your debt and can’t retire because of it.
Count this as a blessing.
This is exactly what the administration wants. The most powerful tool people have is to make sure they get out and vote, and more importantly, to educate themselves on what they’re voting for before they do so.
Maybe don’t go to an expensive private school?
Have your child go to community college for the first 2 yrs. Make it simple
That was the deliberate intention of the Heritage Foundation and the Republican Party in making these rule changes and passing the BBB.
Your kid doesn’t get to go to their choice of college anymore or get to choose a major that’s meaningful to them.
They want your son to go into a trade program so they can put him to work faster, and your daughter to became in incubator to replenish their dwindling labor force. They weren’t even subtle about it.
Their kids are struggling to compete, so to preserve their hegemony they’re putting financial stress on colleges so that they can buy them a spot or buy the school and pervert the curriculum with their ultraconservative views.
Look for a free degrees in Education. Some community colleges offer Bachelors degrees.
This is happening because of the greed from the colleges and universities; something has to give
Student loan balances are insane now; because of the lack of any restrictions, at least now there will be a fighting chance to cut back on the numbers of students that get in so far over their heads and then taking a lifetime to repay them
The colleges and universities have enjoyed tuition increases outpacing general inflation for years. Between unlimited loans and mountains of subsidies, there has been NO incentive for the schools to remain “affordable” so they have not.
These institutions have never had any incentive to use money wisely, they have treated federal funds as an unlimited resource with no consequence for using as much of it as possible