How will you get a bank to extend $200K of credit to you or your parents?
How will you deal with “settling” for not getting a personal loan?
You have to be a good credit risk.
What does your own bank account look like? Did you save enough from your high school jobs and deposit a decent amount? Did you open a college savings, checking and credit account? Do you have a credit card?
Your own financial history matters to the lending institutions: showing a history of frequently depositing your paychecks into your savings and checking accounts.
Having a long history of depositing birthday monies, gift cash, etc. would help a little, but for the big money, your parents would have to, essentially, mortgage their home-big mistake because they could lose it.
Also, some of these parent loans have “pay-as-you-go” requirements. You would have to be a person who gets the $3000 monthly payments paid and
because the banks don’t settle for not getting paid every month while going to school.
At the moment, no one in your family would be a good risk to loan $50k per year.