Who offer such loans? Federal government or the university?
Federal government has the Direct loan (Stafford), and PLUS loans offered to parents. Some universities have loan programs, and some states have them too. Private lenders also offer student loans like Discover, Wells Fargo, SoFi.
And if a student cannot get need based aid, they might be able to get merit scholarships.
How much in loans?
As you are a high-income earner (or the child of) and seem to be flirting with high COA schools you can also leverage your own savings or home equity in ways that might be cheaper than parental loans or private school loans. Your student can borrow about 27K max over 4 yrs of undergrad via staffords. Any other loans are yours. Your kid doesn’t need to take out any loans if you just pay.
And your kid does not HAVE to go to a $60,000 plus a year college.
Again I ask…has she submitted an application to Alabama, or Ole Miss…where she would get very significant merit aid…so you could save YOUR money? She might not even need loans…as your costs would be pretty low at both of these colleges.
The federal student loan limit is ~$5500/year. I think anything over that amount would have to be loans in your name.
The federal student loans…Direct Loans are as follows.
Freshman $5500
Sophomore $6500
Junior $7500
Senior $7500
Anything above and beyond that amount would either need to be cosigned by parents OR taken out by parents.