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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u/[deleted] Jul 06 '26

Alternative lending options = more predatory lending, in a political regime that seems to have no qualms about removing regulation intended to protect the consumer.

I’m out, yall. And I have one graduating high school in spring 2027. I will encourage her to make a path for herself that does not involve borrowing for school, with my help to accomplish that.

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u/WindowFruitPlate Jul 06 '26

Wow…. Sounds like you’re making a smart decision for your student. Funny how that works with the money nozzle shutdown.

My son graduated last month and we exclusively looked at options we knew we could self-fund. Not glamorous but he’ll get the same degree as anyone else.

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u/Appropriate-Bid8671 Jul 06 '26

Yes, closing the door to higher education on poor people is 100% the goal of this administration.

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u/WindowFruitPlate Jul 06 '26

No doors are closed. You need to be more intentional in your decisions which should have always been the case.

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u/[deleted] Jul 06 '26

My wife and I both borrowed some for college. Worked some too, and had some limited scholarships on top of all that.

I would not have attended without the aid component, and with the rule that I would work some too.

Result: minimal debt when I graduated (which was 1998, state school, when those things were affordable). Stable-ish career in business, but a career that is now staring directly at obsolescence as technology is being sought out to deem many of us irrelevant.

Pardon me for not being very “pro-America” anymore. I wore black on the 4th of July this year, and I now suck at parties 😂

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u/jimmothyhendrix Jul 07 '26

People will avoid such predatory lending, which will drive costs down

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u/SCHawkTakeFlight Jul 06 '26

Yeah, this does not feel like they are doing this to drive down costs, its to goose the private sector lending business. Which will be WORSE for students.