Amid discussions of student loans many talk of aid and interest rates for undergrad students. My poll is asking do you think aid should be increased for graduate students? Graduate/professional school is extremely expensive, many times costing as much as a house. When I graduate pharmacy school I will be $150,000-$200,000 in student loan debt. The interest rate is 6.8% and accrues immediately (upon borrowing) with a 1% disbursement fee. Grad plus loans are put into play after a student has borrowed $31,000 through stafford and has a 7.9% interest rate accruing immediately with a 4% disbursement fee. There is no pell grant, state aid (at least in my state), or much of anything else outside of very small (and rare) outside scholarships for graduate/professional students.
Law school graduates have an average of $100,433 in debt Law School Student Debt Exceeds $100,000 Amid Jobs Shortage - Bloomberg
Medical school graduates have an average of $157,944 in debt. Background
The debt burden has become insane. Keep in mind that these are averages. People who do not come from wealthy families, like me, must take out the maximum number to essentially finance all school costs and most living expenses.
Should the government increase funding for grad students? Should they decrease it? What should happen with the student loans and interest rates? Keep in mind, the federal government is in charge of the loans and interest rates. Student loan debt has also surpassed credit card debt.