<p>I am new to this site, and have just done some of the financial calculations, and I am quite surprised at the current cost of college education at an LAC. So what kind of loans are available when you have a high estimated parent contribution. Until my second begins college 2 years after my first, it appears the portion I am expected to pay is prety much the entire balance. What sort of loans are available to me and my child? Are we eligible for federal loans? What are they and what are the amounts that they extend? Which ones are parent loans and which ones are student loans? We can come up with some of the needed money, but certainly don’t have the full ride available to just write a check. Thanks</p>
<p>Investigate Stafford Loans - assuming you are not qualified for subsidized loan (this is for the student not the parent) you can still borrow the full amount as unsubsidized and you pay the interest while student in school. There are no income guidelines for parent loans PLUS loans, you can borrow the full amount of tuition, room and board which is due. You may want to check, however, as the interest rate is now 8%+ and I found that this year a home equity loan (not line) was 2 % points lower. Repayment on PLUS loans begins 6 months after the money is disbursed -and it typically is disbursed for each semester.</p>