Federal Loan Cuts Push Students Toward Private Debt

College students may face challenges in funding their education due to reduced federal loan availability, potentially pushing them towards costly private loans. Graduate students, especially medical students, are particularly affected, as federal loan limits fall short of the average medical school debt. The elimination of Grad PLUS loans and new limits on Parent PLUS loans may force students and families into private loans with higher interest rates and fewer protections. Critics argue that this approach doesnt address rising education costs, merely shifting the burden to students and families.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.