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College and University Discussion
Reply to "Student loan forgiveness "
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[quote=Anonymous][quote=Anonymous]OP here. Yes the question is whether we are silly paying tuition if all student loans will be forgiven in the near future. As to the PP, it is possible to borrow $50K per year for student loans for undergrad per google search ... so I don’t know what the $27K limit is. (Agree that if this is an issue of saving $27K, not worth it - though still for 2 kids that is more than $50K (and like $80K needed to earn $50K net) - not a minuscule amount). [/quote] The maximum guaranteed student loan limits are $5500 freshman year, $6500 sophomore year, and $7500 for junior and senior year. Dependent kids whose parents don't qualify for parent plus loans due to insufficient income can borrow up to $57k for undergrad. But it does not sound like you are too poor to obtain parent plus loans so $27k is all your kid can borrow under government sponsored loan programs for undergrad studies. See https://studentloanhero.com/featured/maximum-student-loan-amount-limit-federal-student-aid/ As I said, private loans are not in the conversation for loan forgiveness. So you are debating an issue that applies at most to $27k per kid. Not worth even thinking about.[/quote]
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