<p>He said he will allow me to borrow money from the bank ($40,000 in total) to pay for my college. He has already paid for $50,000 for my college. Do you think its smart? </p>
<p>What are you asking about: borrowing from your dad, or borrowing from a bank? (Unless by “bank,” you mean the Bank of Dad.)</p>
<p>Unless you have a cosigner or collateral, you probably won’t be able to get a loan from a real bank.</p>
<p>@middkid86 My father would borrow from the bank. </p>
<p>That is a LOT of loan money for your undergrad education…$90,000, right? </p>
<p>@thumper1 Yeah 
My father said I wont have to repay him but for the money he’d be borrowing from the bank, I would have to pay him back after graduation.</p>
<p>Can you get your degree for less? I don’t know your father’s financial situation, but I know I would not have done that to my father. As much as I loathed the idea, I would have gone locally if it meant he’d have to borrow or get a second job or if he and my mother had to further tighten the household budget belt. I just would not have wanted to do that to them, and neither did my brothers. </p>
<p>If you don’t borrow the money from your dad, how will you pay for college (or will you drop out)?</p>
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Will you get a job with high enough income to pay him back?</p>
<p>Are you also borrowing any Fed Direct Loans? If not, why not?</p>