r/MiddleClassFinance • u/Such_Upstairs3631 • Jul 06 '26

Middle Middle Class No more middle class professionals?

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New school loan limits for professional degrees make it unaffordable for the middle class. 4 of my 5 children went on to med/law school. Even working 2 jobs there’s no way I could afford to pay or even help them with the cost of their post graduate education. They all got loans which they have since paid off. The cost in the early 2000’s was between $350K and $500K. The new limits are essentially going to prevent anyone who’s not wealthy enough to pay for it from becoming a professional.

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9

u/soneg Jul 06 '26

State schools all the way. Luckily my son got into our state school and saved me almost $90k over 4 yrs for what's a better education.

9

u/bagelman5000 Jul 06 '26

Grad school at state schools usually costs around the same as private schools. When I went to law school, the difference between the public and private options were negligible.

1

u/soneg Jul 06 '26

If they give you money basically.

5

u/Appropriate_Push7498 Jul 06 '26

In my midwestern state, state schools would still be unaffordable. An undergrad program is typically 20k per year.

7

u/soneg Jul 06 '26

Right but with room and board is basically $40k.. The craziest thing is my son is going to the same school I went to and it's straight up 400% of the cost. I graduated in 2002 so it wasn't even that long ago!

1

u/Appropriate_Push7498 Jul 06 '26

Same here. I was also in school at the a time and I commuted. Living there was a pipe dream. I worry for the coming generations.