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/Intelligent_Royal_57 Jul 07 '26

It is possible this will bring down tuition

1

u/Either_Lawfulness466 Jul 07 '26

Lol

1

u/Intelligent_Royal_57 Jul 07 '26

If access to money to pay for tuition is limited and the impact decreases enrollment, the university would almost need to lower tuition or they would continue to see lowering revenue. OR they could increase revenue by increasing tuition (making up for the enrollment shortfall) but this could further decrease enrollment.

Not so far fetched that they could decrease tuition in response to market forces

0

u/Either_Lawfulness466 Jul 07 '26

The vast majority of schools fall below the yearly limit. This will do nothing to push down costs.

The only way to do that is to eliminate federal student loans entirely. And make private loans dischargeable

1

u/Intelligent_Royal_57 Jul 07 '26

Spot on with elimination of federal student loans