I don’t understand your thought process. It’s less than a week to May 1st. There’s no place to get free money right now. No stimulus package is going to cover the gap for families who want to send their child to a school that costs more than they can afford. There aren’t any outside scholarships that will cover it either. The only way to pay the difference is to take loans.
You asked months ago if saddling your kid with ~$100k in debt was reasonable. You’ve been told that it isn’t. We all understand that it’s difficult to tell your kid that you can’t afford something they really want. But the reality is that $100k is too much for them to pay off. And that’s if they’re lucky enough to graduate. If you’re approved for loans in the first year or two but denied in years 3 or 4, your child would still have $40-60k in loans (plus interest) and no degree.
It’s late in the process. It seems unkind to let your kid continue to think that this school is a possibility when you know that the only way for them to attend is for them to take on a crippling amount of debt. If you, as an adult with years of work experience, can’t pay ~$80k for college what makes you think a new college graduate will be able to afford it?
We know your heart is in the right place. Please help your child pick from their affordable options. Any school that requires more than the ~$5500/year federal student loan is not affordable.