<p>Question. D has acceptance into 2 schools. </p>
<p>I did a 4 year total cost analysis (after factoring in scholarships) for the 2 schools assuming 6% per year increases in tuition, fees, and R&B.</p>
<p>School #1 would cost $42K. School #2 would cost $112K. This is total over 4 yrs.</p>
<p>Now I tell D that I'll cover the $42K for school 1 so she could get out of undergrad debt free. But she really likes school #2 so I say she have to cover the $70K difference between working summers and student loans.</p>
<p>Obvously this is far higher than unsubsidized stafford load. Are there loan programs which she can get loans in her name? I can't take on that $70K as parent plus loan since I've got 2 others going to college 2 and 4 years after her.</p>
<p>Feedback appreciated.</p>
<p>If a student has a credit-worthy co-signer (meaning you), you can put all remaining costs into her name. Of course if something happens and your daughter is not able to pay, they will come looking for you to pay.</p>
<p>$70k is a lot of money. Run payment estimates on that balance after your daughter graduates and show her what kind of payments she will be expected to make after graduation.</p>
<p>Check SallieMae, Nelnet, or your local banks for secondary education loans.</p>
<p>Thanks scottaa.</p>
<p>What is the interest rate on these loans. I'm sure that the interest rate accumulates while in school? What is repayment period, 10yrs?</p>
<p>Interest rates and repayments vary based upon credit rating, lender, etc.</p>
<p><a href="http://www.salliemae.com%5B/url%5D">www.salliemae.com</a> should be able to give you more info.</p>