<p>Are your parents, with an income of 55K per year, willing to co-sign your loans? Because you won’t be able to borrow enough money on your own to pay for “any institution.”</p>
<p>Exactly! YOU don’t have the income to qualify for such loans, and your parents may not qualify to co-sign…and they may say “no” since their credit would be at risk. Most parents refuse to co-sign. </p>
<p>YOU can only borrow the following amounts:</p>
<p>$5500 frosh
$6500 soph
$7500 jr
$7500 sr</p>
<p>and, these amounts will likely already be in your FA pkg, so you won’t be able to borrow to cover any shortfalls or cover any EFC.</p>
<p>“I am willing to be in debt for any school…”</p>
<p>And that’s why they don’t let kids borrow lots of money…they are moved by emotion and not the realities of debt and how debt affects one’s life.</p>