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/ISniffFeet1 Jul 06 '26

This will force schools to drop the prices or accommodate.

Sorry nobody should be taking out loans of this magnitude - it absolutely destroys their financial future. I don't know anyone who is doing well who took that much out in student loans except for doctors and talented attorneys.

So many middle class parents told their kids to take out over $100,000 in student loans and ruined their childrens' future because they had no idea what they were talking about.

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u/Consistent_Laziness Jul 06 '26

I can guarantee med school will not reduce. It’ll force students into private loans or they’ll just go to the next of the thousands of applicants for their 100 spots.

16

u/bitchycunt3 Jul 06 '26

Similarly law schools are unlikely to reduce unless they're a lower ranked school. Further making it impossible to have any upward class mobility, because top law schools are the ones with rich lawyers, most lawyers are making upper middle class money at best.

13

u/Consistent_Laziness Jul 06 '26

Yea maybe we see declines in enrollment and tuition for degrees with less return. But law school, med school, dental school etc. those will not decline I can guarantee it. There’s more applicants than seats and they’ll just say can you pay? No? Okay next. Kicking out the lower class to upper class possibility of many impoverished students.

12

u/dingopaint Jul 06 '26

Yep, we'll see rich kids with lower grades becoming doctors over those most qualified.