<p>My college is going to be around 26k/year with room and board. Say I get a 1k/year scholarship and then it's 25k/year, how much should I expect to be in debt after 4 years if my EFC is around 6k? Sorry, I'm stressing out now about loans.</p>
<p>That depends on how much you and your parents can afford to pay.</p>
<p>The most you should take out in loans is no more than $5-7,000 per year.</p>
<p>Does your college guarantee to “meet full need?” Most colleges do not. It looks like you might come up $14k short if your parents pay $6k and you borrow $5k.</p>
<p>You need to make sure that you have a financial safety school on your list. That’s a school that you know that you can afford for SURE by paying with ASSURED grants, ASSURED scholarships, small federal loan, and/or family funds.</p>
<p>What school is your financial safety school?</p>
<p>How much will your parents pay?</p>
<p>As mentioned above, the amounts YOU can borrow from federal loans is small…</p>
<p>frosh 5500
soph 6500
jr 7500
sr 7500</p>
<p>So, if your school doesn’t give much/any aid except for federal aid, you could end up quite short of money for THIS school.</p>