Every student qualifies for government loans, topping off at $27,000 total, over 4 years. Right now they are at zero interest until at least the fall, and there is a repayment freeze for those who have graduated.
Agree with previous replies - pretty much any student can get federal loans in the amounts dreamer listed above. The rates are reasonable, and the loan is completely in the student's name. I never understand people (not referring to OP, just generally on various forums) who ask about where to get loans for their students and also say, "I don't fill out the FAFSA because there's no point." Filling out the FAFSA - which is not really that much effort - qualifies your student for these federal direct loans. The school(s) you send the FAFSA to will offer the loan each year, and all your student has to do is accept them. It's true that without financial need, your student will get unsubsidized loans, where the interest that accrues starting from the time the loan is taken out and will be the student's responsibility to pay back. With financial need, the loan might be partially subsidized, meaning the government takes care of the interest while the student is in college at least half time. No payments on either subsidized or unsubsidized loans are required until after the student graduates, but you can certainly make payments while they are in college if you want to.
Agreed, on #4 and #5, it’s always $5500 total, I think subsidized vs. unsubstidized based of financials.
My dd graduates in May. I wonder what the plan will be
