<p>Certainly call the financial aid office to get started, but I PROMISE that they will do nothing until and unless you and your parents fill out the FAFSA, CSS/Profile and submit tax information. You should start on all of that immediately as that will be the FIRST question USC financial aid will ask.</p>
<p>You will want to submit a letter of additional information with your financial aid application. Gather documents that verify the job loss. Note: Pensions, unemployment payments and/or disability will be considered along with income. I want to temper your financial aid hopes a bit, because a family with an EFC in excess of USC’s cost of attendance very likely has significant assets, additional sources of income and your parents have likely planned for financial setbacks. All of that is GREAT news for your family, but will mean that need-based financial aid may be limited.</p>
<p>The UCs are very good schools - all of them. At 1/2 the price and with a parental job loss, cutting college costs in half may be the most sensible course of action. Before paying full-price for one year at USC, run the NPC with estimated numbers for next year to see what you might expect (remember, the NPC is just a planning tool and does not represent an offer or guarantee of aid). 2nd homes and rental properties must be included. <a href=“http://www.usc.edu/admission/fa/applying_receiving/npc/”>http://www.usc.edu/admission/fa/applying_receiving/npc/</a> Worst-case scenario would be to exhaust savings paying $65,000 for one year at USC and then have to transfer to another school. UCs in general do not accept sophomore-level transfers, so that would mean going to a community college for a year before going to a UC.</p>
<p>If, on the other hand, you start at a UC and your dad’s health and employment prospects improve, USC does indeed accept sophomore transfers. Again, a gap year might be a good idea to take advantage of the merit aid possibilities at a variety of schools - USC’s merit aid is so very selective, I would not “count” on it - and the possibility of need-based aid.</p>