<p>My dad has offered a very generous amount for my college education, and I've told him many times how grateful I am for it. However, he seems to be expecting me to go to a cheaper public in-state school where all costs would be covered by this amount. My top three choices are out-of-state and private. I want to use the amount he's offering to cover most of the costs at one of these schools and try and get financial aid for the rest (most likely loans) but my dad says he will not cosign for a loan. I want to have a talk with him about it and I need some info. How big of a loan is "reasonable" for a typical college student? I would theoretically need about 12k a year. Is this entirely doable at most places, or is that a little much? I'm applying for scholarships as well.</p>
<p>It's not doable without a cosigner. What are your next three choices?</p>
<p>I thought there were some loans you can get without a cosigner if you're 18. I'll turn 18 next year when I'm a senior. My other choices are mostly private, but I have several UCs on the list too. They're definitely not my top choices, but I'm considering them. I want to go to a LAC, and so far, they're all expensive.</p>
<p>The loans that are available to an 18 year old w/o a cosigner are the federally sponsored loan programs (Stafford and Perkins). The only one you are sure to get is the Stafford at $3500 per year (new number next year).</p>
<p>For any other loans, you will need a co-signer.</p>
<p>Listen to your father (don't you hate it when people say that), if he is not willing to co-sign, he probably has a good reason.</p>
<p>You could try to find someone else to cosign, perhaps another relative? I know some people who found other adults to cosign on small loans, and intend to consolidate and remove the cosigners responsabilities after graduating.</p>
<p>I have an aunt who might cosign. She's really supportive of my college choices. I don't know for sure, though - it's definitely a commitment.</p>
<p>This is my personal opinion. I am a dad. $12K a year is too much debt. By the time you graduate, the interest will put that debt well over $50K. Don't do it. It is hard for you to comprehend right now, but that kind of debt will be like a lead weight hanging around your neck. Go to the cheaper school. You will have fun and get a great education at the same time. My 2 cents.</p>