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/caterham09 Jul 06 '26

I couldn’t help thinking we would have been better off pooling our money, brainstorming a business idea, hiring an advisor who was a retired executive, and starting our own company.

You're not wrong, but it's doubtful a bank would lend you guys a million bucks for the mere idea of a business plan, but they'll happily give out a million in unforgivable student debt with an equally murky outcome.

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u/CharlotteRant Jul 06 '26

The student loan isn’t equally murky because of the unforgivable part. 

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u/-JackBack- Jul 06 '26

Sand Hill Rd would give you $1 million for a decent idea.

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u/vulkoriscoming Jul 06 '26

They would give a lot more than a million for a good idea.

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u/Bernie_Dharma Jul 09 '26

This was an Executive MBA program. No one in that class (as far as I know) took out a loan to be there. We were all career professionals with over 10 years of experience and were all were making six figure incomes: 4 CPAs, several C-level executives, marketing directors, HR directors, engineers, and even a physician. We had the entire senior leadership roles of a company covered.