A final note: maybe you can ask your dad which school he would prefer you to attend, now that he has co-signed the loan. If your dad now feels comfortable recommending UIUC over MN after taking the loan and knowing the potential consequences, then that may be more important than anything we can tell you here. If your dad still feels he would prefer you take the MN route, I suggest reading over the responses above, and seriosuly consider MN.