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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How do undergrads borrow more than the maximum that a student loan will allow? I thought the max was around $28k over four years. [/quote]

That's federal loans for undergrads. More than that would be private loans, usually co-signed by a parent, parent loans that the parents are expecting the student to pay, and/or grad school loans.

I generally think if you borrowed money you should pay it back. We made choices to go to lower cost schools to avoid loans so I don't have a lot of sympathy for those who took the line that you should just take out loans to go to a higher ranked school. Or, in the last couple years, said just borrow money because it will be forgiven.

But, I also think there should be resources for bankruptcy or resetting to a lower interest rate and those who qualify for public service forgiveness should absolutely get that. I know a lot of people were screwed over by that process.[/quote]

I agree. And while I felt the Biden loan forgiveness attempt was well intentioned it seemed ham handed. Had I graduated from grad school five years after I did I could have received loan forgiveness under the plan but because I made too much money five years out I couldn’t. It was very arbitrary. Who should be getting help at this point are the seniors who still have loans. I just read an article about people who are 60+ who feel they can never retire despite years of paying loans. Those people I feel for. But I don’t think someone who just randomly happened to graduate from college in 2020 with loans should receive blanket forgiveness. [/quote]

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