Big changes for federal student loans include new caps on amounts that can be borrowed

abc 7 Eyewitness News

Mayotte said there’s added concern for students already pursuing a professional degree.
“The concern becomes, once they reach that cap, what happens?” Mayotte said.

“But there’s a concern for that too. First, are they going to qualify for private loan, especially now? They already have $200,000 sitting in their debt-to-income ratio. If they do qualify, is it going to be a reasonable interest rate? Even if it is, will they be able to afford the payments?” Mayotte said.

“But there’s a concern for that too. First, are they going to qualify for private loan, especially now? They already have $200,000 sitting in their debt-to-income ratio. If they do qualify, is it going to be a reasonable interest rate? Even if it is, will they be able to afford the payments?” Mayotte said.