^I just re-read fog's post and see you're right; the unnamed school (H, Y, or P) wanted double what the P calculator indicated. Yes, probably not P, but I would assume H and Y would come in about the same. In any event, what a disappointment.
Also, to clarify my post, for the P parent loan, the borrower has two options, either a variable LIBOR rate adjustable every six months (currently 1.55%) or a fixed rate of 5.9%.
To further clarify my post, my statement that we have a "healthy net worth" may be misleading. We are not super wealthy by any measure, but we have assets that are probably untypically high relative to our income. The generous schools talk about formulas (10% of income up to $160,000, for example) assuming typical assets, and a lot of people surely wonder what the "typical assets" disclaimer means. I just wanted to point out that in our case, at least, P did not force us to liguidate assets in a bad market to pay tuition. We are very happy with the combination of the financial aid grant and the super affordable loan they offered us.
fogfog - sorry for my misinterpretation of your post, best wishes to you and your athlete through the rest of the process, and I certainly hope the pre-read you received was in error and will be corrected.