He can’t get an additional $16K in loans per year on his own. Sounds like all told the student and family are looking at taking out the $27K in undergrad student loans, plus another $64K in loans (minimum since costs are likely to increase during the undergrad years), for a total of $91K…is that correct?
Summary of options include parents taking $64K+ in parent plus loans, co-signing private loans for the student if you can find someone willing to lend to him even with a co-signer…and co-signing basically has the same financial impact as if the parents have the loans directly, choose a less expensive 4 year school, take a gap year to work and save money, do ROTC, or join the military.
Everyone’s calculus and priorities will be different, but IMO leaving a ND public college with nearly $100K in debt is not a good financial option.