College tuition has gone up 1400% since the 1970s because colleges knew they could charge anything they wanted and the dumb 18-year olds they exploited would take out the government loans and hand it over to them.
https://www.in2013dollars.com/College-tuition-and-fees/price-inflation
I went to college in the 70s and early 80s. I checked to see what tuition and fees are at colleges I went to, compared to what they were when I attended. Tuition and fees have increased far more than the rate of inflation.
I wonder what the debt burden is for today’s new grads, based on salaries of the jobs they get after graduation, considering what such jobs paid now vs. Years ago.
As I understand it, there are yearly and total federal loan limits for undergraduate students whose parents are able to obtain PLUS Loans:
https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized
some:
First-Year Undergraduate Annual Loan Limit - $5,500(dependent students)/$9,500 (independent students)
undergraduate Aggregate Loan Limits - $31,000(dependent students)/$57,500 (independent students)
Graduate or Professional Student Annual Loan Limit (yearly) - $20,500
undergraduate and graduate Aggregate Loan Limits - $138,500 for graduate or professional students
“If you are a dependent student whose parents are ineligible for a Direct PLUS Loan, you may be able to receive additional Direct Unsubsidized Loan funds.”
“The interest rates for Direct Subsidized Loans and Direct Unsubsidized Loans first disbursed on or after July 1, 2020 and before July 1, 2021 are shown in the chart below.
Undergraduate Borrowers 2.75%
Graduate or Professional Borrowers 4.30%”
“If it is your first time receiving a Direct Loan, you will be required to complete entrance counseling, a tool to ensure you understand your obligation to repay the loan”