<p>I have that common problem of getting into a good private school that costs some serious cash to go and being accepted to a decent state school that would cost significantly less if not a full-ride.</p>
<p>Does anyone have any experience with debt coming out of college? How much is too much?</p>
<p>The guideline is that the max fed student loans is about the most kids should borrow.</p>
<p>frosh 5500
soph 6500
jr 7500
sr 7500</p>
<p>Are you a junior?</p>
<p>Most schools (even privates) don’t give a lot of aid. </p>
<p>Do you know how much your parents will pay each year?</p>
<p>What state are you in?</p>
<p>What are your stats?</p>
<p>Typically only the tippy tippy top schools give good financial aid. If you are a competitive applicant, these schools will probably be your best bet. Otherwise, state schools or privates with merit aid you can win are your best options.</p>
<p>Stats?
The offer that I got from a private school is ~10K out of pocket with a 3500 loan (the school gave me 50K in aid); I’m not sure about the state school yet, but I got a scholarship and I’m expecting some financial aid.</p>
<p>It appears that you private school offer includes $3500 of subsidized Stafford loan. You can borrow an additional $2k on an unsubsidized basis. You and your family will have to come up with an additional $8K there, but you will owe $5500 for your freshman year. </p>
<p>State schools can vary all over the place as all schools can. Most state schools do not guarantee to meet 100% of need. However, they may have guaranteed merit/need awards that can make it a free ride for some applicants. Until you get the full award letter, you won’t know. Bottom line, you compare what each school costs and loans are a cost as you will have to pay them–you just get extended time to pay them. The Stafford will be available at both schools for you.</p>