Unless I have it wrong…the family has $30,000 a year put away for this kid to attend college. If he goes to a $67,000 a year college, he will need to fund $37,000 a YEAR of his undergrad education with loans.
That means he will have well over $100,000 in loan debt for undergrad school to attend Villanova, Lehigh, or Bucknell.
OTOH…his college savings will pay for UMD or Catholic University…leaving him with NO debt.
If he takes the Direct Loan, he could go to Dayton or Scranton and have less than $30,000 TOTAL in loans for undergrad.
If his family is willing to take out or cosign those $30,000 a YEAR plus loans…fine. That’s their decision. But he has options that would leave him debt free.
And UMD isn’t exactly a poor choice. It’s actually a good one.
And the family has younger siblings to consider in the mix as well.