Financial aid and student loan upheaval in reconciliation bill impact
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
Is anyone following this?
https://www.npr.org/2025/04/30/nx-s1-5381149/trump-republicans-student-loan-repayment This is far more than collecting student loans. It drastically reduces the amount of aid available, restricts loans to shut out many from private institutions and would likely bankrupt many institutions. |
Anonymous
| Yeah I don't know how higher (but not super rich) earners in VHCOL areas are supposed to pay for multiple kids to go to college. My plan was parent plus, the loans will end when I die. I don't have half a million per kid to send them. If this passes IDK where they can go. |
Anonymous
|
Yes. Trump, Elon and cronies don’t want people to be able to afford private education, that is for the billionaires. Elon was pissed to hear many Feds send their kids to private schools—- mind you these are 2-salary families for the most part both working and not living extravagantly.
But, yeah: how dare they? I don’t get how so many people voted against their own best interests. They don’t like you- they just wanted your vote. |
Anonymous
|
I hate that I'm saying this, but it might be a bit of a stopped clock moment. The current student loan system does drive up prices and is largely predatory. Making schools responsible for student default would create some better incentives.
This will restrict access when paired with cuts to funding, which is bad - but, a different administration (or rich donors) could turn that funding back on, without the baggage of student loans. And you can still take out regular personal loans that are dischargeable in bankruptcy. |
Anonymous
| Not perfect but much better than the current system. |
Anonymous
In state publics. No one needs to attend a top private. Tell them now, before they get far along in the college process, that they are merit hunting. |
Anonymous
I agree with this, but I also think undergrad should be heavily subsidized for in-state students who can gain admission. You should be able to get a degree's worth of undergrad credits for free or nearly free - student should only pay for books, and perhaps specialty lab fees. But if you fail a class or change majors, you may need to buy additional course credits to earn a degree. I attended a public land-grant university in the 1990s and my annual fees were something like $7k. It's much, much more expensive today - both because costs are being driven up, and because states stopping putting money into the system. |
Anonymous
I think this is what’s going to bring the Republicans down. They’re messing with people’s *good* kids, for no good reason. |
Anonymous
And/or one big hurricane carving a path through a bunch of red states with no FEMA to help with recovery. It’s gonna be ugly. |
Anonymous
|
Am I missing something? Most of the decent schools promise that they meet full demonstrated need and most only require no, or only a small student loan, in that need calculation package. For example:
Amherst: meets full need, no loans BC: meets full need, no loans BU: meets full need, max $5,500 loan Emory: meets full need, no loan Georgetown: meets full need, no max on loans George Washington: does not meet full need Johns Hopkins: meets full need, no loan Northeastern: meets full need, max $5k loan Northwestern: meets full need, no loan Richmond: meets full need, max $6000 loan Tufts: meets full need, max $2,000 loan Villanova: does not meet full need Wake Forest: meets full need, max $20,500 loan Williams College: meets full need, no loans |
Anonymous
These schools still rely on Pell grants to make this possible. |
Anonymous
Pell grants aren't impacted according to the above article. They're just mandating full time (or half time) attendance. |
Anonymous
| Letting people take huge loans is not the anwser as many don't pay it back. Schools will have to change their business model and spending. |
Anonymous
These schools all determine full need according to their own formulas many include loans. Home equity is often an issue and younger siblings are not a consideration. |
Anonymous
This is usually for lower income. Those making $200-800k+ who didn't save are going to struggle. |