The federal government is cutting their expenses and one of the things that is being cut, is subsidized student loans for graduate students. Unsubsidized student loans will still be around (unless they get cut too), as will subsidized student loans for undergraduates (again, unless they get cut).
This is going to have a major affect on many graduate students and is to have to going to change how people decide about graduate school. I am not sure if this means all $20,500 of available money will be unsubsidized or if now graduate student will only have access to $12,000 for the year. My husband and I are discussing taking out the full subsidized amount this year just in case but we already have pulled out one full year last year ($8500) and therefore may just use that. If we do not pull more out, we will have to not save for retirement. I do not like that choice but what can I do?
Hopefully, there will be a solution found where the government will again allow subsidized student loans for graduate students but I do not expect it to be any time soon. Does anyone disagree?
When is the date for when they will be cutting subsidized loans? I took out the full amount for this year, so I should be ok except for a couple thousand.
ReplyDeleteit was on the wall, always coming. govt is banrupt
ReplyDeleteMichelle, I think it is next school year.
ReplyDelete