My son applied too-his first choice, basically his only choice.
Well, there ARE ways to afford a good education.
Yikes. I'm assuming you mean Stafford Loans when you say "usual loans"? So, the $18,000 that you would take out would be on top of those? Honestly, it might be time for him to rethink his choice of major (and school).
I agree with the others that there are lots of ways to get a good education and it doesn't have to be at a pricey, private school. My older ds started out at a state school but then changed majors part way through so transferred to a school with a better pre-med program, which happened to be a fairly 'prestigious' school. And he did well there and got into med school. But experience wise he hated it. Everyone was so competitive and 'snobby'. He enjoyed the public school hands down. Unless your ds has his heart set on a major that is only provided at this school I'd encourage starting at CC or a state school - the first couple years are mostly gen eds, anyway.
We could not have afforded to send out kids to a private college unless they got huge scholarships.
I'm in agreement with the other posters- I would NOT take out that much of a loan.