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USC--meets demonstrated need?

Parent46Parent46 Posts: 168Registered User Junior Member
So supposedly USC is one of those schools that meet demonstrated need? Do you know whether they have the reputation of using massive loans like NYU?
Post edited by Parent46 on

Replies to: USC--meets demonstrated need?

  • thumper1thumper1 Posts: 35,667Registered User Senior Member
    NYU does NOT meet full need of all accepted students. Many times a parent Plus loan is included which is NOT student financial aid. It is a parent loan.

    USC meets full need as THEY calculate it to be. I believe the only loans they package are the Direct Loans...and perhaps Perkins loans.
  • stevesanchezzstevesanchezz Posts: 50Registered User Junior Member
    I am a freshman at USC right now and after I applied for their financial aid, I got pretty much all of my need covered. The best part is that loans were a small part of the package; the grants were definitely more prominent.
  • MrsDrzMrsDrz Posts: 226Registered User Junior Member
    USC offered the worst financial package of my D's 14 schools. Our EFC is high, but the COA for USC was still higher, yet they filled in the gaps with student loans and "parent contributions." It doesn't hurt to try though because each case is unique. USC was also 2nd to last to display the whole financial package...very near the May 1st accept date,
  • cptofthehousecptofthehouse Posts: 24,272Registered User Senior Member
    When you are looking for schools that will meet full need or close to it, it's important to know what the definition of need is to the school, and where you fall in it. If you have a NCP situation, for instance, even the schools with the best reps fo giving full need may not help you a bit. You have to look for some other alternatives. It is possible to get a great aid package better than that from schools that guarnatee to meet full need, from a school that does not make any such guarantee and usually doesn't. If you are one of their top applicants and they give you a big thumbs up, your package can be quite generous from such a school. I've seen kids whose best package was from NYU. THere is a case on this board right now where a student has a very nice package from BU. THe expression "YMMV" holds for financial aid.

    USC does guarantee to meet full need as they define it. They do include loans in the package.
  • atkma720atkma720 Posts: 2Registered User New Member
    We have had much the same experience as many of you. Jubilant to get accepted into Annenberg at USC, and then depressed to see the financial aid offer. We'd have to pay over $50K per yr. Our EFC was about 20000. I have learned that the EFC figure is merely an "index" to some mysterious formula which appears to vary from college to college.

    I called the financial aid office and asked a woman there how to appeal. She said to go to your portal at USConnect

    Then click on "Required Info and Forms". There you can select something like "appeal" and upload a Word file where you explain why you need more aid. Then you click on the "income and expense document" or something like that and fill out an online form with yet more questions about your money, in the hopes of reconsideration. I am about to do that but am feeling not-very-hopeful. Even if they were generous enough to reduce it by $10K, it would still be too much.

    I am in tears for my son.
  • Erin's DadErin's Dad Posts: 18,561Super Moderator Senior Member
    The two areas where a FAFSA EFC may significantly differ from an FA offer from a school that meets need are significant assets and owning a business. I imagine one of those applies in your case atkma.
  • cptofthehousecptofthehouse Posts: 24,272Registered User Senior Member
    EFC is just the minimum amount a family has to pay to still get federal benefits, and it also calculates eligibility for PELL. That's it. Schools that guarantee to meet full need calculate their own contributions expected. Some things that are way different are primary home equity, which FAFSA ignores, NCP situations, owning a business, assets that other siblings have, how another sibling in school affects the cost, and any number of other things. You can be PELL eligible and the school can expect you to pay ful price less any Federal entitlements if that school does its own calculation. You don't lose federal eligibility, by the way. The school just won't give you any of their own money, which is their right.
  • mom2collegekidsmom2collegekids Posts: 60,493Registered User Senior Member
    We'd have to pay over $50K per yr. Our EFC was about 20000. I have learned that the EFC figure is merely an "index" to some mysterious formula which appears to vary from college to college.


    You're mixing up FAFSA EFC and what a school determines that the family should pay using CSS Profile.

    FAFSA EFC is an index used for federal aid. That has nothing to do with USC's aid.

    FAFSA doesn't consider some things that CSS does.

    Since your FAFSA EFC is $20k, yet your USC "family contribution" is $50k....then likely CSS Profile revealed something like:

    you own your own business and some of your "deductions" were added back in.

    you have lots of home equity

    you have substantial retirement accts

    there is a non-custodial parent.
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