<p>Ok I got my financial aid award packet in the mail today and after everything I still would owe $27000.
So my question is: is sallie Mae the "stafford" loan that is on the letter (mine was only 3000 for very low income household)?
On the sallie Mae website there is a program that offers to loan full tuition.</p>
<p>Stafford loan is a Federal loan. For a dependent freshman, it is limited to $5500 of which up to $3500 may be subsidized if there is unmet need.</p>
<p>Sallie Mae are private lenders. You will need a cosigner with good credit. $27k a year is much too much to borrow. With interest accumulating you will end up owing about $130k after 4 years and will be facing 10 years of monthly payments in the region of $1600. I hope you have a more affordable option.</p>