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[quote=Anonymous][quote=Anonymous]We told our kids from middle school that we had enough money for them to go to 4 years of in-state public and they needed to work in that budget.  If they can get merit aid at a private or out of state, that's fine but they will need to take loans out to cover any difference.  
  [/quote]

This but with the caveat that the only loans that will be available to them are federal unsubsidized loans, which are limited to a total of $5500 in the first year, $6500 in the second year, and $7500 for subsequent years, up to a total of $31k. We will not be borrowing any money on their behalf or cosigning any loans. Given these limits, loans aren't likely to bridge the difference between the cost of an in- state public and a private college unless significant merit or need-based aid is at hand as well.

Our kids ended up at (1) a mid-ranked private SLAC private with merit plus some federal loans (totaling ~$12,000) and (2) our in-state flagship, no loans. [/quote]

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