Reply to Yale vs Penn State - Your Honest Opinion Please

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I got into both Yale and Penn State and I went to Yale.  My parents didn't give me a hard time about it but helped me pay and supported me taking out loans.  I met people at Yale I wouldn't have met at Penn State.  Even now, the Yale name on my resume means more on job applications than the Penn State name would.  I would make the same choice again.[/quote]
How much loans can students take out? That $5,500K or so a year that every student can take out obviously won't cut it. Was it actually your parents who took out the loans? Or co-signed your loans? Research says below:
[b]
$5,500 to $12,500 per year[/b]
The maximum amount that undergraduate students can borrow each year in federal direct subsidized and unsubsidized loans ranges from $5,500 to $12,500 per year, depending on their year in school and whether they're a dependent or independent student.[/quote]

Those are federal loans.  You can always get private student loans as long as parents co-sign and credit worthy.  https://www.salliemae.com/student-loans/get-ready-to-borrow/decide-how-much-to-borrow/

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The child can take out max $5500 a year under FAFSA.  No private lender will give a 17 or 18-year -old Sloan because they have no collateral. The parents must fund the difference. All the stuff you hear about student loans issbojt grad school[/quote]

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