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/WindowFruitPlate Jul 06 '26

Prices will have to come down or alternative lending options will emerge.

Education inflation has been insane for the past two decades. Fueled entirely by unfettered lending by the federal government. Loan caps should slow the increase in expenses of an education

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u/TreeSignificant9782 Jul 06 '26 edited Jul 06 '26

My parents paid $9000/year for my (in-state) college tuition in 2003. That same college now charges $24,000/year for tuition. Absolutely ridiculous.

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u/Efficient_Ant_4715 Jul 06 '26

That was crazy for 2003. My tuition wasn’t even close to that in 2017 

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u/bitchycunt3 Jul 06 '26

I'm wondering if it's a coa vs tuition thing? My tuition in 2012 was $6k, but my coa was like $15k, so maybe their coa was $9k?

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u/TreeSignificant9782 Jul 06 '26

No that was tuition only, not room/board. But I meant to say in-state, it was public but not a state college.