Should I Apply to Schools I can't Afford?

This was answered above with the $5500/$6500/$7500/7500 per year caps, but realize the these are NOT no-interest loans. There is interest on them from day one, but the government may subsidize the interest on some of that amount if you qualify as needing assistance when you file FAFSA. There is always $2000 per year of the max that is unsubsidized.