High EFC, but want loans!

samsmom
Wed, 14 Mar 2007 22:33:35 +0000

Hi,

My daughter has been accepted and wishes to attend a very pricey college. We are happy about this and although we have not yet been informed wether she has been awarded any merit aid, our EFC is higher than the annual cost of the school so we expect no financial aid. My question is this… we don’t want to hand this college education to her on a silver platter and wish for her to contribute each year by either paying a certain amount, or getting a student loan. We don’t want her overwhelmed by loans, but we were thinking the standard loan is about $3,500 per year and would like her to obtain one each year so she has some personal stake in her education.

When we look on-line at her financial aid profile is just says the bill is x amount and as parents we are supposed to pay that amount. How do we find out if we can get her a basic student loan? At a different college she was eligible for a loan, but not at the one she wishes to attend. Any help here? Thanks!