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[quote=Anonymous][quote=Anonymous]One thing no one has mentioned is that even if your income is too high to make you eligible for federal student loans beyond the standard unsubsidized loan any student can get if they fill out the FAFSA, CSS profile schools may still give you need based financial aid in the form of grants. Specifically, you may qualify for some need based aid because you have multiple kids in college at once. The FAFSA calculations don’t care about multiple kids in college at once but CSS calculations (which are individual to each school) do.

We have 2 kids who will overlap for 2 years.  The first 2 years our oldest was in college our DD qualified for no aid, but when her sister went to college both of their schools—neither of which gave merit aid// gave roughly $20k/year in grants. What you can expect from CSS schools varies wildly, but typically the well resourced and higher ranked schools are able to be more generous. You have to run the calculators on each school’s website though. 
[/quote]

Other than pell grants, the total amount of federal loans that you qualify isn't effected by income. The only difference between rich and poor kids is the availability of subsidized loans which are not in addition to the loan limit, rather they replace a certain portion of unsubsidized loans. For a freshman, federal loans without additional grants aren't paying tuition anywhere:

"First-Year Undergraduate Annual Loan Limit $5,500-No more than $3,500 of this amount may be in subsidized loans."

https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

The biggest myth/misconception that I hear is that students can pay for college with loans. Parents can take out loans if they qualify, but a dependent undergraduate student can't hope to afford tuition based solely on loans [/quote]

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