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College and University Discussion
Reply to "Help me understand structuring student loan repayment"
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[quote=Anonymous]A private college tuition cost is about $50000 tuition +25000 other expenses, that is a total of $75000. I am planning for my kids college. $75000 per child per year for me is a lot of money. I didn't go to undergraduate school here in the USA, so I am a bit confused. In the DC metro area, are there lots of families who can afford this tuition? Do private colleges students usually work part-time at least to pay for their living expenses? I know the federal loan would not cover this much, then are kids able to borrow $50000 a year somewhere or parents need to cosign assuming that parents could afford the loan? Would colleges offer reduced tuition for families who cannot afford to pay that tuition? Is it common that extraordinary kids won't go to top colleges due to high tuition? Or there is almost no chance for ordinary families even to be accepted by Ivy? Thank you for sharing your insights and knowledge![/quote]
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