Should a parent cosign for a private student loan?

BobWallace
Fri, 22 Jun 2012 00:05:53 +0000

lerkin:

My son just finished 9th grade and I more or less made up my mind that he is going to local flagship, because we will not qualify for any need-based aid. But sometimes I wonder if there are some good LACs (with good science curriculum) that will give him enough merit for him to attend it instead of flagship.



It all depends on stats. If you have stats good enough for “elite” schools, then you can get excellent merit aid somewhere.

My oldest just went through the college process this year, and the most “elite” school where she got in was Vanderbilt. She had multiple full ride scholarships available due to NMF, but ended up winning and accepting a competitive full ride from a small LAC she loves. So in our case, small LAC ended up cheaper than state flagship.