<p>@snax03, my first kid attended a private school where she got about 1/3 of the total cost covered by merit money. She paid for books, spending money, and covered the cost of any unpaid summer internships she wanted to take (so if she had to live in another city, she had to pay for her apartment, food, etc. – which she did one summer). I have also made it very clear that I will cover 8 semesters of college and no more, so they need to keep on top of major selection and graduation requirements. So kid #1 ended up costing me an average of about $32K/year.</p>
<p>My second kid is close to full pay at a private college (need based grant covered about 1/6 of the cost last year). So about $50K last year. She has the same deal, but we have also have and will continue to take out the federal unsubsidized loans (the ones where she doesn’t have to pay interest on them until she graduates). If she graduates in 4 years, I intend to pay those off for her. But we saved a lot for our kids’ educations, so this has not all come straight out of annual income.</p>
<p>If your dad is pretty adamant that you borrow to attend, you might ask if he thinks it is fair for you to borrow from him (no interest) up to the federal loan limit that you could borrow by yourself ($27K total in 4 years), and see if he will cover the rest.</p>
<p>And don’t forget that you are in-state for Minnesota public colleges, too. U of M - TC, or UM- Morris if you are interested in more of an LAC-type experience.</p>