How will families afford college and grad schools?

[Anonymous]

In my opinion, the bigger question is how families will afford law, medical, or graduate school now? It's a small group of families that save for post-grad education, and we're going from no limit for graduate plus loans to a $200,000 limit. This is where we'll see the toughest decisions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

You know there are other options beyond private college, right? Ever heard of in-state or community college? Live within your means.

100%

[Anonymous]

Anonymous wrote:In my opinion, the bigger question is how families will afford law, medical, or graduate school now? It's a small group of families that save for post-grad education, and we're going from no limit for graduate plus loans to a $200,000 limit. This is where we'll see the toughest decisions.

Private loans. Or go to the rapidly increasing list of US medical schools that have need-based aid based on the student's parents or guardians. There is non-need based merit fellowships, too, but that remains rare and only for the very top students.

[Anonymous]

Anonymous wrote:In my opinion, the bigger question is how families will afford law, medical, or graduate school now? It's a small group of families that save for post-grad education, and we're going from no limit for graduate plus loans to a $200,000 limit. This is where we'll see the toughest decisions.

I think that law school may look to go to an undergrad + masters like Europe. Reserve the JD programs for career switchers or students that want to prestige up for a chance at big law. I could also see the JD going to two years. Essentially aligning legal licensing to be more like accounting licensing with the JD acting as an MBA type grad program. This lets the schools get money for undergrad, the $100k for a masters, and $200k for JDs.

For medical school, I could see more 2+4 programs or similar. Basically undergrad is just to knock out pre-reqs then going straight to med school. $200k for four years to go into a $60k residency program is just really tough to make sense with these loan caps. Or start some kind of part-time program for the growing population of mid-levels.

[Anonymous]

For the people saying aide and scholarship - anyone think these may take a dip if students are more price sensitive? If schools cannot use the full pay to subsidize some of the scholarships. I guess they would still have the scholarships funded from the endowment, just feel like aide will be less if the full pay students are more conservative with spending.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah that’s the whole point. They don’t want people going to college.

They want dumb people who will believe FOX news. Attending college means you meet different kinds of people, develop more empathy, and other things the dictator doesn't want us to be or do.

And you can accomplish all of that by attending your state schools or start out at community college and transfer. Why do you feel entitled to someone else paying your way at an expensive private college you clearly can't afford? Pay your own way and live within your means.
DP

You do realize teachers, nannies, day care workers, social workers, some nurses, police, fire fighters and so many other professions that help YOU, have lower incomes and don't their kids deserve equal. If all the teachers quit for higher-paying jobs, you'll have to go private or teach yoru own kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In my opinion, the bigger question is how families will afford law, medical, or graduate school now? It's a small group of families that save for post-grad education, and we're going from no limit for graduate plus loans to a $200,000 limit. This is where we'll see the toughest decisions.

I think that law school may look to go to an undergrad + masters like Europe. Reserve the JD programs for career switchers or students that want to prestige up for a chance at big law. I could also see the JD going to two years. Essentially aligning legal licensing to be more like accounting licensing with the JD acting as an MBA type grad program. This lets the schools get money for undergrad, the $100k for a masters, and $200k for JDs.

For medical school, I could see more 2+4 programs or similar. Basically undergrad is just to knock out pre-reqs then going straight to med school. $200k for four years to go into a $60k residency program is just really tough to make sense with these loan caps. Or start some kind of part-time program for the growing population of mid-levels.

Ha - no way. Law schools are massive money makers. They cost nothing and there is no way they should be three years, but they are. This isn’t going away.

[Anonymous]

Anonymous wrote:Well colleges and universities need students to survive. So if the cost becomes out of reach for more students, then those schools will either close or find a way to make it more affordable.

I am a Dem but I am actually okay with this because the increase in loan amounts has led directly to higher tuition costs. Schools consistently just move the cost of attendance to take advantage of loan availability -- it's like free money to them. And they don't spend the money on quality teaching or better educational opportunities -- they spend it on administrator salaries and non-educational amenities (dining halls, fitness centers, etc.). That's where the cost spiral is coming from.

I'd like to see more commuter colleges, more part time programs, more programs that feed directly into apprenticeships. Obama actually tried to push higher ed in this direction and he got criticized and it never got off the ground. But he was right. We don't need more people borrowing money to obtain degrees that don't lead to jobs and financial stability. That only benefits college presidents who want nicer homes and fancier vacations. We need a system that actually prepares people for jobs, and creates economic opportunity at all levels. That's not going to happen under the current system, which sucks.

Rolling back the blank check our student loan system has been writing to colleges is the first step. Now we need to incentivize more cost-effective, job-focused programs. We should look to Europe for this. When Dems are in power in again, we should be looking to create pilot programs for shorter, degree-granting institutions located near commuting hubs that could be free or almost free. This is the future.

And you need to start thinking more expansively about what college will look like for your kids, and whether they will truly be served by a classic, 4-yr program at a liberal arts college. Those will still be around and there will be ways to make them affordable, but you need to ask if it's truly right for your kids. It really does not serve everyone well.

I doubt you would feel this way if you came from a family which couldn't afford to pay for college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Duh, you find schools that will give your kids scholarships? You might have to drop down a notch, but it’s certainly possible. Or go in the military for a few years?

Military is not a good option.

Of course it is. Are you the poster who constantly disparages the military and ROTC?
DP

[Anonymous]

Anonymous wrote:

Anonymous wrote:In my opinion, the bigger question is how families will afford law, medical, or graduate school now? It's a small group of families that save for post-grad education, and we're going from no limit for graduate plus loans to a $200,000 limit. This is where we'll see the toughest decisions.

Private loans. Or go to the rapidly increasing list of US medical schools that have need-based aid based on the student's parents or guardians. There is non-need based merit fellowships, too, but that remains rare and only for the very top students.

And aren't some med schools completely free?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah that’s the whole point. They don’t want people going to college.

They want dumb people who will believe FOX news. Attending college means you meet different kinds of people, develop more empathy, and other things the dictator doesn't want us to be or do.

And you can accomplish all of that by attending your state schools or start out at community college and transfer. Why do you feel entitled to someone else paying your way at an expensive private college you clearly can't afford? Pay your own way and live within your means.
DP

You do realize teachers, nannies, day care workers, social workers, some nurses, police, fire fighters and so many other professions that help YOU, have lower incomes and don't their kids deserve equal. If all the teachers quit for higher-paying jobs, you'll have to go private or teach yoru own kids.

I have no idea what you're trying to say. My OWN kids took the community college to state university route. The kids of all of the people you list can do the same thing.

[Anonymous]

Anonymous wrote:They won't, but the Rs either don't care or want it this way. Opportunity hoarding for the rich!

This. It’s a giant obstacle to upward mobility. Just the way they want it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They won't, but the Rs either don't care or want it this way. Opportunity hoarding for the rich!

This. It’s a giant obstacle to upward mobility. Just the way they want it.

I think what you mean to say is, this is a giant obstacle to people like you, who want to borrow more than you could ever pay back. Darn it, aren't other people supposed to fund your kids' tuitions??

[Anonymous]

The sticker price is different from the actual price. Read Ron Lieber on this!

We began saving when kid was in preschool. We have now two years saved for my 14-year-old for a private college, hoping to pay as we go for a year, hopefully will have close to one more year saved by the time they're at graduation, and counting on a small contribution from grandparents so can eke it out. But would prefer in-state by far, and kid can use anything left to fund grad school if applicable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Duh, you find schools that will give your kids scholarships? You might have to drop down a notch, but it’s certainly possible. Or go in the military for a few years?

Military is not a good option.

Of course it is. Are you the poster who constantly disparages the military and ROTC?
DP

Agree. DH was kind of drifting (came from a very poor family and dropped out of first college). Military turned his life around and later gave him funds to use toward school. His life is so different than his siblings’.