New Limits to Federal Student Loans.
- Thread starter JohnDB
- Start date
candycorn
Diamond Member
countdown to "gender studies" mention 5...4...3...2..
wamose
Diamond Member
Is there really anything definitive about gender, now that there are so many of them? SC justice Brown doesn't even know what a woman is. So gender, at least among Democrats, seems to be becoming irrelevant.
candycorn
Diamond Member
???
I just know that anytime the word "college" is mentioned, the MAGA turds have a Pavlovian response and start mumbling something about gender studies.
WorldWatcher
Platinum Member
My wife and I were enlisted in the Navy, so we're not talking high dollar incomes, but as a couple we did okay. When the kids were young we squeeze out enrollment in the Virgina Prepaid College Program where you make payments locked in at the current rate and you were guarenteed to cover tuition at a future college (state) for that period of time at the future rate. We could only afford two years at University for each.
I vividly remember one conversatation with the kids regarding college. And to summarize it was basically this. you can go to college and Mom & I will help but there are strings attached. You can major in anything you want, but if you want help from us it has to be a degree field with employement and solid earnings potential. You want a degree in Early Midevil French literature? Fine, but you are on your own. Our daughter got her undergraduate in Math and is now an attorney, our son was a business IT major.
Our daughter did end up with some student loan debt but about half of what her peers have/had - so she is good. Our son lived at home and worked, with our program and his own work he graduated debt free.
We're very lucky.
WW
I vividly remember one conversatation with the kids regarding college. And to summarize it was basically this. you can go to college and Mom & I will help but there are strings attached. You can major in anything you want, but if you want help from us it has to be a degree field with employement and solid earnings potential. You want a degree in Early Midevil French literature? Fine, but you are on your own. Our daughter got her undergraduate in Math and is now an attorney, our son was a business IT major.
Our daughter did end up with some student loan debt but about half of what her peers have/had - so she is good. Our son lived at home and worked, with our program and his own work he graduated debt free.
We're very lucky.
WW
frigidweirdo
Diamond Member
- Mar 7, 2014
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That's just super weird. Why should people have to earn more? People have their own way in life, they don't need to be pumping cash straight out of college.
WorldWatcher
Platinum Member
"...they don't need to be pumping cash straight out of college."
See that's kind of the problem, they DO need to be pumpoing cash straight out of college because of high student loan debt and the ability to make payments on the loan. If the cash isn't there to make a living AND pay the debt, there are problems.
WW
JohnDB
Diamond Member
- Jun 16, 2021
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- Thread starter
- #9
If a very expensive college education does not return any better wages than a High School graduate.....
Then what was the point of going in debt?
If a school teacher with a masters degree makes less than a Fry cook at McDonald's with a high school diploma....but the school teacher has $100,000+ in school loan debt....who is actually making a better income?
That's a problem.
1srelluc
Diamond Member
New
The new limits to federal student loans, as set by the One Big Beautiful Bill Act, will take effect on July 1, 2026. Here are the key changes:- Graduate and Professional Loans: Unsubsidized loans will be capped at $20,500 per year, with a lifetime limit of $100,000 for many graduate programs and $200,000 for certain professional programs.
2 - Parent PLUS Loans: New loans will be limited to $20,000 per year per student, with a lifetime cap of $65,000.
2 - Lifetime Borrowing Limit: All federal student loans combined will have a new lifetime maximum of $257,500, excluding PLUS Loans.
2 - Graduate PLUS Loans: Eliminated for new borrowers starting July 1, 2026.
2 - Repayment Assistance Plan: A new income-driven repayment plan called RAP (Repayment Assistance Plan) with forgiveness after 30 years.
1
These changes will significantly impact how students and families plan their education and finances. It is crucial for prospective students to understand these new limits and how they may affect their ability to afford college or graduate school.
3 -
3 Sources
- Still sounds like BS to me.....The .gov needs to get out of student loans altogether.....Let the banks weigh the risk of repayment.
frigidweirdo
Diamond Member
- Mar 7, 2014
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Which is why having such high college fees is ridiculous. We don't need everyone working all the time. Having 20 year olds experiencing life before marriage, before working the rest of their lives and retiring, is going to make the country a better place.
frigidweirdo
Diamond Member
- Mar 7, 2014
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My point is that 4 years is a pretty short time frame. I left college and went to live in Spain for three years. I was BROKE. One time I went to do a Spanish course in the summer without realizing that I couldn't afford it. Luckily the grandma of one of the teachers died and they hired me to do one class, so I could then afford it.
The problem is when you get people like Trump who think money is the only thing in life. I learned Spanish in three years, I experienced the world, different people. It made me a better person.
The government never should have been involved in guaranteeing student loans, then exempting the loans from bankruptcy.
The banks went ape shit, giving anyone and their brother very expensive loans.
The banks went ape shit, giving anyone and their brother very expensive loans.
JohnDB
Diamond Member
- Jun 16, 2021
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- #14
Not going to agree...New
The new limits to federal student loans, as set by the One Big Beautiful Bill Act, will take effect on July 1, 2026. Here are the key changes:
- Graduate and Professional Loans: Unsubsidized loans will be capped at $20,500 per year, with a lifetime limit of $100,000 for many graduate programs and $200,000 for certain professional programs.
2- Parent PLUS Loans: New loans will be limited to $20,000 per year per student, with a lifetime cap of $65,000.
2- Lifetime Borrowing Limit: All federal student loans combined will have a new lifetime maximum of $257,500, excluding PLUS Loans.
2- Graduate PLUS Loans: Eliminated for new borrowers starting July 1, 2026.
2- Repayment Assistance Plan: A new income-driven repayment plan called RAP (Repayment Assistance Plan) with forgiveness after 30 years.
1
These changes will significantly impact how students and families plan their education and finances. It is crucial for prospective students to understand these new limits and how they may affect their ability to afford college or graduate school.
3
3 Sources
- Still sounds like BS to me.....The .gov needs to get out of student loans altogether.....Let the banks weigh the risk of repayment.
(We need a highly educated population)
BUT
I do say that something needed to be done. Was this the right thing to do?
I'm not sure.
There are lots of options to get a college education and graduate without debt - or with minimal debt. One of the best paths is to start at community college, maintain a B average, take advantage of transfer scholarships to the 4-year state school.
Assuming you can earn the transfer scholarship, your entire tuition bill for all four years will between $30,000 and $50,000 .
Also, if one can’t maintain a B average in community college, one is really not college material. In that instance, I’d suggest taking a vocational program at CC rather than an academic one geared for transfer.
WorldWatcher
Platinum Member
That's similar to what our son did.
He took our 2 years University Pre-Paid program. Under the program 2 years at a community college = 1 year of program usage. So 2 years at a CC and 1 year at a University. He worked part-time at an IT firm (web hosting) to cover expenses and his 4th year. Graduating with no debt.
WW
JoeB131
Diamond Member
Um, yeah, about that.
The problem is community colleges are a joke. Right after HS (because I couldn't get into the college of my choice right away) I took one semester at a City College in Chicago. The coursework was less rigorous than my coursework at my Catholic High School. When I finally got to a real university the next year, it was quite a shock.
Only 16% of students who start at a Community college end up getting a Bachelor's degree. Only about a third of them end up even being able to transfer to a real university.
JoeB131
Diamond Member
Yet a lot more go to Community College and never get anywhere near a degree.
As someone who helps prepare resumes, I can't tell you how many times I have to put "Coursework at Community College" under education.
Anathema
Crotchety Olde Man
There shouldn’t be ANY federal student loans. It’s not the government’s job. People need to be taking much harder looks at what the career value of thst college degree is before committing to hundreds of thousands of dollars in loans. They also need to be looking at scholarships and applying.
Now, this was 30 years ago, but I knew I didn’t need a 4 yearcdefeee for the careers wanted; so I found a school with a two year, Associates Defree in the field that I wanted to study. I filled out scholarship applications, wrote scholarship letters, and brought in a good chunk of cash for my education. Combine that with the schools’s financial aid and what my parents could pay I ended up with one private $3000 loan to cover my two years. With that degree I now earn over $100K a year
Now, this was 30 years ago, but I knew I didn’t need a 4 yearcdefeee for the careers wanted; so I found a school with a two year, Associates Defree in the field that I wanted to study. I filled out scholarship applications, wrote scholarship letters, and brought in a good chunk of cash for my education. Combine that with the schools’s financial aid and what my parents could pay I ended up with one private $3000 loan to cover my two years. With that degree I now earn over $100K a year
Last I checked, YOU brought it up.
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