JacquesVallee
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A bill passed the House 215-214 that will have set a lifetime borrowing cap of $200,000 for any single borrower across all federal loan types, with specific limits of $50,000 for undergraduates, $100,000 for graduate students, and $150,000 for professional students. If this passes the Senate, this will completely overhaul the entire higher education system.
I'd have to imagine a majority of the expensive private schools like USC, NYU, etc will shut down as it's very unlikely there are enough students wealthy enough to foot the tuition. Even many state schools may face issues as some are already in the 350-400k range for cost. I also suspect the expensive residency programs that charge 200k+ won't survive either.
I've seen on the pre med forums people freaking out because most private med schools are around 300k. I'd imagine private loans would could end up covering them, but when it comes to dental schools costing 500k+ I just don't see them surviving.
There are so many unknowns with what the consequences of this bill will be, so I am super empathetic to pre meds and pre dents who are concerned. However, the unlimited access to infinite student loans is the source of the problem we're currently facing. Something has to be done about it. If not, dental school costs will reach 1 million dollars at some schools within the decade.
www.highereddive.com
I'd have to imagine a majority of the expensive private schools like USC, NYU, etc will shut down as it's very unlikely there are enough students wealthy enough to foot the tuition. Even many state schools may face issues as some are already in the 350-400k range for cost. I also suspect the expensive residency programs that charge 200k+ won't survive either.
I've seen on the pre med forums people freaking out because most private med schools are around 300k. I'd imagine private loans would could end up covering them, but when it comes to dental schools costing 500k+ I just don't see them surviving.
There are so many unknowns with what the consequences of this bill will be, so I am super empathetic to pre meds and pre dents who are concerned. However, the unlimited access to infinite student loans is the source of the problem we're currently facing. Something has to be done about it. If not, dental school costs will reach 1 million dollars at some schools within the decade.
The reconciliation bill cleared the House. Here’s how it would change higher ed.
Critics worry that the spending package, now headed to the Senate, would have a “historic and negative impact” on college access.
