""A lot of institutions are stepping up and helping. Can they cover this whole gap? I mean, that's really going to be difficult.""
""The new limits mean students whose families can't afford to pay out of pocket or easily access private loans may be forced to find less-expensive options or forgo college.""
""The average net cost of attendance at public four-year colleges is $21,340, and at private nonprofit institutions, it is $37,380, making the new caps likely insufficient for many students.""
New restrictions on Parent Plus loans limit borrowing for parents, pressuring colleges to enhance financial aid. Some institutions are fundraising or cutting costs to provide scholarships, while others consider creating loan programs. The new cap of $20,000 per year may leave students unable to afford college, especially at high-cost institutions. Many colleges, including historically Black colleges, report average loan amounts exceeding the new limits, indicating a significant financial gap for families.
Read at The Washington Post
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