You, as a student, can only borrow $5,500. It’s no longer like in your dad’s time - due to the financial crisis and the loan bubble, students can’t borrow whatever they want. All universities will offer $5,500 in federal loans to go toward your first year. Other loans, called Parent PLUS loans, are taken by parents. If your father has the money, it’d make better financial sense for him to use it, rather than to borrow it at 7% interest!!