Reply to With caps on amounts borrowed, HOW do students get into high debt like $200K +?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Op-the high loan amounts are grad school debt. In America students can take out only the max $27kfederal unsubsidized loans (for all four years) meaning parents have to come up with the difference. Now a few voices in here will say that their kids will get private loans in addition to the unsubsidized ones but I’ve yet to hear of a bank willing to make a loan to a 17 year old with no collateral. (Even if parents copay). So it’s all back on the parents for undergrad. The big hue and cry of the media has been sleight of hand because that crisis us all about dental, medical, law and business school, etc[/quote]

This is a recent rule (27.5K limit). This did not used to be the rule.[/quote]

The limits haven’t changed that much over time. I took out the max in loans and owed a total of $17k in 1997.[/quote]

Was that the principal? Because when people defer payments and refinance and use those awful old consolidators, the amount owed balloons. Also, I think people are sometimes referring to what they will eventually pay with all the interest. [/quote]

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