How much debt is reasonable for college grad?

[SnowWhite2]

My DD had a mix up with her financial aid that was discovered in the middle of the 1st semester. This school was $60K/yr for tuition/room/board/books. She wants us to co-sign loans for her that would total over $125K when she gets out. She is also not the best with money and she would be messing with our credit rating if she is late or defaults. We won't do it and made her change schools this fall. (Yes, I did pay $60K for one year of college ) We are in our early 50s and need to concentrate on saving for retirement.

The old school won't give her any financial aid. She is going into engineering but still, $125K is way too much debt. The other school, with the same degree (and a little higher starting salary at my company) is 1/2 the price and she will have no debt besides the first year unsubsidized loan of $5K. She hates us right now, but in 5 years she will be so glad we made her move schools.

 

[scbelleatheart]

This may not help you but it is idea for others. We have 4 kids. 3 in college at one time so we could not contribute a huge amount.
DS1 went 2 yrs private and 2 yrs state university for engineering. He had large loans. Worked 4 yrs. He joined the Army reserves as a grunt not an officer as he could have. They paid all his loans, he kept his job and had to commit to 1 weekend a month & 2 weeks a year for 2 years.
DD2 went to a state university, worked too in her chosen field and got her masters and soon to be doctorate. She works for the university as a fully paid professional and PA. They paid for her MA and her doctorate.
So no debt for 2 now. The jury is still out on DS2 because he still has to finish his BA but he worked nights and weekends all through school so he pays his own bills and has a small loan from his 1st year at private college then transferred to a state university.