My Son is just graduating number 1 out of 500 with a 33 ACT. We are waiting for the financial "package" from Notre Dame where he wants to go and has been accepted. I know it's going to require me to borrow more money. I hate it but can't tell my son who has worked very hard, never less than an A including 2 years of AP credits, lettered in hockey and baseball, worked in the summer, that he cant go to the top college he earned a spot at.
I haven't been much help but I can commiserate with your dilemma.
“I think it would be great if my kids could borrow enough, but the misnomered “financial aid” office sent me a letter saying that I should borrow the money myself because we did not qualify for most of the government programs.”
I had to borrow most of the money for the four year college, too, because ‘financial aid’ informed me that if my credit was good they would not loan to money to my son — but my son and I had a private arrangement that he would pay it back, not me.
Of course you want a kid you can trust if you are going to do that! Also be aware that even if you can trust him, something beyond his control can happen (health or whatever), so you should be prepared to pay the loan yourself if necessary.
My son’s loans are paid off :)