<p>Is there an easy to reference list around of the types of educational loans available? Is it possible for a student to finance a $20,000 education completely with loans? These can be either parent or student loans.</p>
<p>First, are you planning to file FAFSA? If so, federal loans may be available to the student.</p>
<p>Yes, FAFSA has been filed.</p>
<p>RTR, is that $20K/year?</p>
<p>Best place to start is the Federal govt. website on student financial aid. Everything you want to know on Perkins, Stafford, PLUS etc. - all the loans. [Student</a> Aid on the Web](<a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp]Student”>http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp)</p>
<p>*Is it possible for a student to finance a $20,000 education completely with loans? These can be either parent or student loans. *</p>
<p>You’re asking 2 separate questions… … :)</p>
<p>A student without income/assets cannot usually borrow more than the Stafford limits - which are well below $20k per year. Typically, Stafford loans are $5500 for frosh, $6500 for soph, and $7500 for jr and sr years. A few thousand more can be borrowed if parents apply for a Plus loan and are denied.</p>
<p>Parents are free to borrow as much as they can qualify for from a combination of sources…Plus loans, private loans, refi property, etc. Qualified parents can also co-sign loans for students…</p>
<p>That said…it is NOT a good idea for an undergrad to borrow $20k per year. The monthly payments would be about $900 a month for 10 years. A student would have to be earning nearly $100k per year to comfortably repay that.</p>
<p>What career is the student pursuing? How much will the student likely be earning after graduation?</p>