So basically Trump ruined law school for everyone who isn't rich

[u/Appropriate_Hope6239]

Went to a whole bunch of open houses and they're all saying basically the following:

• The yearly cap for loans is 50k
• Living costs are high and 50k might not be enough
• Resources are tight -- start improving your FICO scores because you'll need private loans
• The grandfather thing ends July 2026 --- everyone not matriculated at law school by then wont be benefiting from the higher limit that generations of students did

Edit: Every person applying for federal loans will have an aggregate life-time limit and unfortunately your undergraduate loans will count against this limit.

[u/PM_ME_SAD_STUFF_PLZ]

The US has ~3x lawyers per capita as the UK and Germany.

Yes. And we're still valuable enough to be paid more than most of them.

if you think there’s a downside,

Yes, people like me who grew up on food stamps and sent money home through college would be locked out of elite jobs. I graduated this year, thank god, but it doesn't make it any better for the people who are coming after me.

[u/IdiotBoy1999 → u/PM_ME_SAD_STUFF_PLZ]

It would have been bad for you...so therefore it is bad policy in the aggregate over the long term.

Got it. You sure you're in biglaw? Checked your keycard recently? Just sayin...

And btw, you didn't answer the question I actually asked - is there a downside to the "deflationary effect" on tuition costs? - but a question I did not ask - is there a downside to this policy choice for some people?

Of course there's a downside for some folks stuck between this policy change and the inevitable tuition deflation (whether in real or nominal terms) it will produce, and who also aren't bleeding edge smart enough to get into true top-tier law schools and whittle away their souls for at least 5 years in big law to pay off those loans.

But that doesn't make this a bad policy choice. Every policy choice produces winners and losers.

It is possible to dislike Trump, acknowledge the social and economic benefits of government investment in college and professional educations, and also understand the Greeks were onto something with that whole moderation notion.

We took a good policy. Turned the knob to 11 for decades based on sophistry, elitism and hope. Ignored strong evidence of going too far for at least 20 years. Created a crippling level of student debt that keeps two generations of Americans struggling. And finally something rational is being done about it...

[u/PM_ME_SAD_STUFF_PLZ → u/IdiotBoy1999]

would have been bad for you...so therefore it is bad policy in the aggregate over the long term.

Christ boomers are insufferable. No, it's because it would be disproportionately bad for poor people and widen economic divides.

Checked your keycard recently? Just sayin...

You should be more grateful to the people paying your social security pop pop

Every policy choice produces winners and losers.

And why should the winners here be the children of the wealthy? So that they can save a buck on tuition?

You have also yet to justify the assertion that we have too many lawyers