The average college student borrows about $30,000 over the course of four years.
Bear in mind that the cost of college tends to rise each year which means that you/your parents wouldn’t necessarily be borrowing $10,000 even each year; in addition, the unsubsidized portion of your federal student loans (assuming you have them) will start capitalizing interest immediately unless you keep paying it, which could make the debt burden swell above $40,000. (Does that $10,000 include the federal student loans or will that be separate debt on top of the loans?)
Is it unmanageable? No. But I would hesitate to take on that amount of money since it could interfere with your life after college in terms of being able to move around for jobs, work for a lower salary in an entry-level position, etc. In addition, unless you personally have decent income and assets right now you will need a cosigner for the loan which means that your parents would be on the hook.
The second college you describe definitely sounds like a good option, but it might be worth some serious thought just because of the risks. If possible, try to see how much of that excess cost you can winnow down. Have you had a chance yet to comb through the college’s cost of attendance. In my opinion, these costs can sometimes be inflated; you can’t really change tuition, but maybe you can shave some bucks off of the room and board by taking a cheaper meal plan. (Room costs may not be changeable if you are in an honors dorm or something, but check that out). Sometimes the transportation amounts are inflated – if your college isn’t too far from home, you can drive instead of fly and not take as many trips home. Try to isolate the direct costs – the moneys that you owe the college – from the costs that you can manage.