KIMT NEWS 3 - On Monday, the Trump Administration proposed a plan to help curb the rising the costs of college. A part of that plan is to place a cap on the money of federal loans students can borrow. The proposal is in its early stages, and a specific limit or means of limiting is not specified yet.
"In one regard, I think that's good because there's definitely a concern with people taking out too much student loans and not being able to pay that back," says Kyle Aure, who works and studies at Rochester Community and Technical College. He adds, "Somebody who can't afford tuition out of pocket needs student loans to be able to afford to go to college... This would put a barrier in their way."
The nation's student loan debt has tripled since 2003 and is now $1.5 trillion. $151 billion is from federal student loans.