Over the years, I’ve worked with many families who are shocked to hear that their children cannot borrow the full amount that they need to cover all college expenses not covered with financial aid. Undergraduates are actually quite limited in the amount they can borrow in their name alone: $5,500 for their first year, $6,500 for sophomore year, and $7,500 for junior and senior years. That’s only $27,000 in Federal Direct Loans for a student who is enrolled for four years. With high college expenses, these limited amounts may not go far in terms of covering that tuition bill.
The Insider: College Admissions Advice from the Experts is where College Coach experts weigh in on the latest college admissions topics. We cover everything from application timelines and strategies to tips on financing your child's education.
Subscribe to Our Blog
ACT admissions applying from abroad choosing a major choosing the right college college admissions advice college admissions consulting college admissions process college applications college lists college loans college planner college visits common app common application common application help deciding on a college early action early decision educational consultant essay prompts essays FAFSA financial aid financial aid award getting in high school resume how to get into an ivy league school international students ivy league mba mba programs parenting paying for college researching colleges SAT saving for college scholarships scholarship search standardized testing standardized tests summer activities summer planning tuition writing college essays