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There is no maximum on parent or graduate PLUS loans. I do understand that Warren’s proposal was directed to the Stafford loan programs – but those aren’t the source of the problem, precisely because of the caps. (I understand that it would be better for a kid to borrow $20,000 at 3.4% interest rather than 6.8%, but the difference between a year’s worth of interest at the higher vs. the lower rate is $700. With interest and payments deferred while the student is in school, that’s still a pretty good deal - if you really want to be honest about the rate, you should factor in the value of ~4 years at -0- interest). </p>
<p>My perspective on the problem has changed somewhat now that my kids & their peers are in grad school, and I am seeing young twenty-somethings being confronted with taking on 6 figure loan debt to pursue a professional or semi-professional degree.</p>