Hello.
First time parent doing this college stuff. I have a question and would like to know opinions, if it's good or bad.
Our family EFC is super low. Was offered full tuition grant (no room/board) at a private school that costs $65k per year. The other $20k is offset by Pell and SEOG grants. Loans were offered to my child Sub & unsub, work/study as well. After student loans, as a family we would have to come up with around $6k a year. Is this a good investment? Would probably need a parent loan but no idea how to pay that back. It would be about $50k between both parent and student loans for 4 years.
Other private schools have offered anywhere between $12-18K scholarship, high tuition (as above) though.
State school is charging around $10-11k a year.
Community college in our state is $$, and then if a transfer happens we lose grant.
Stats high, child feels student loans can be repaid upon graduation no problem. Not sure if they understand how debt can cripple you.
Thanks for any insight.
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