Thanks for writing. We'd start by reading our http://www.filife.com/topics/student-loans">student loan guide. It'll provide you with a comprehensive overview of your options.

We also checked in with Mark Kantrowitz of FinAid.org to assess your situation. With $120,000 in income, he suspects your daughter didn't qualify for much other than Stafford loans. He recommends applying for the Parent PLUS loan. If you qualify, you can use it to borrow up to the full cost of your daughter's education, including room and board. If you don't qualify, your daughter will get increased Stafford loan limits of $4,000 a year during her freshman and sophomore years, and $5,000 a year during her junior and senior years. Meanwhile, Congress just increased the unsubsidized Stafford loan limits by $2,000 a year, so your daughter's financial aid package might not include that yet. Your daughter can also try getting an on-campus job for 10 to 15 hours a week if she didn't get Federal Work Study, which provides part-time jobs for students with financial need. The on-campus job might help reduce the amount she needs to borrow by $1,500 to $2,500 a year, Kantrowitz estimated.