<p>For transfers who may qualify for need-based aid:</p>
<p>**Need-based aid *for transfers is the same as for freshmen: USC guarantees to meet 100% of USC-determined need for all domestic undergraduates. The deadlines for transfers are exactly the same as for freshmen: Feb 2 for the FAFSA and CSS/Profile and copies of tax returns by March 2 or as soon as possible thereafter. **USC determines need using the CSS/Profile so the amount you are expected to contribute may differ from your FAFSA EFC<a href=“I%20can%20type%20that%20line%20in%20my%20sleep%20at%20this%20point…%20:”>/I</a> )</p>
<p>FOR EVERYONE WHO THINKS THEY MAY BE APPLYING FOR NEED-BASED AID (Freshmen AND Transfers): The 2011 edition of ** Paying for College Without Going Broke** will be available October 26th. You can pre-order it NOW (be sure to order the 2011 edition) at Amazon for $13.50 - it will be the BEST $13.50 you EVER spend because it could save you anywhere from a few thousand to tens of thousands of dollars. BUY IT!</p>
<p>I have been getting a lot of PM questions about financial aid - probably because this thread has fallen out of sight. If you have financial aid questions, it would be great if you could post them here - there is probably someone else out there who has the same question and you will help them, too. Also you will get the benefit of other people’s experience, opinions and points of view in addition to my own. (Everyone is welcome to post different viewpoints!)</p>
<p>A recent private question was, “Does income matter in admissions?”</p>
<p>My answer:
</p>
<hr>
<p>On another subject:</p>
<p>For those of you who will be applying for financial aid, I recommend a GREAT book on the first page of this thread. (While you are back there getting the name of the book, you might as well read the USC Financial Aid info on the first two pages ) Be sure to order the 2011 edition, which is now available. It is useful for all income levels and gives advice on choosing which schools are likely to offer you both need-based and merit-based aid.</p>
<p>Remember, the point of applying to college ISN’T to get “in,” it is to GO to college. Be sure you have an affordable back-up plan. There are so many great universities, don’t get caught up in the notion of “prestige” at any cost, or a “dream school” for which you are willing to go into unreasonable debt.</p>
<p>Resurrecting this for the 2011 applicants who have survived the frenzy on December 1st and are starting to think about financial aid. PLEASE go back and read the first couple of pages for lots of information and then try a search of the thread to see if your question has been asked/answered. (Search tab at top right under the page count.)</p>
<p>If you don’t find the answers you need, post your question and I’ll try to help you figure it out!</p>
<p>Good luck!!!</p>
<p>P.S. Get *“Paying for College Without Going Broke 2011” *as soon as possible and you will have lots of answers at your fingertips. (I should get a kickback from the authors… but I don’t!)</p>
<p>Hi alamemom. Thank you for this thread it is very useful.</p>
<p>I am a spring admit attending school at USC next semester. I received a large financial aid package for this semester ($15527 university grant, $550 federal SEOG, Est federal pell grant $2700, $1,000 unsubsidized and $1,500 subsidized loans). I am wondering if I do not take the loans, then will USC’s financial office look see that and give me less aid next year? I think I remember reading about someones situation like that a while ago in earlier pages, but I can’t find it. Thank you!</p>
This is a very good question - and one that I have asked USC Financial Aid.</p>
<p>No, they will not adjust your following year’s financial aid if you choose not to accept offered loans. Your aid will be figured using the CSS/Profile, FAFSA and Tax returns - they will not consider whether you accepted loans in previous years at all.</p>
<p>At USC, all you have to do is not request the loan - there is no need to inform them you will not be accepting it (unless you have already accepted the loan, in which case you will need to submit a written request).</p>
<p>Also, if you do not initially request a loan, you may request it later in the semester if you find you need it. (Once the semester ends, however, loans from previous semesters/years are no longer available.)</p>
<p>Hello! For those who have recovered from the frenzy of submitting those December 1st applications, it is time to start thinking about financial aid.</p>
<p>Talk to your parents NOW about the financial aid applications and due dates. The CSS/Profile and FAFSA are due February 2nd, so they will need to either have their taxes complete before then or have good estimates available to fill out the forms.</p>
<p>The forms can be confusing the first time you fill them out, so be sure to get a start on them by mid-January at the latest. Pick up a copy of Paying for College Without Going Broke (you can order it on Amazon for about $15) and have your parents READ it.</p>
<p>If you have not yet applied to a **FINANCIAL SAFETY **school, do so as soon as possible - many deadlines are January 1st. As much as I hope all of you attend USC, the most important thing is that you all have great affordable options available next April.</p>
<p>Does my Cal Grant matter? I remember my counselor saying something about if I don’t have Cal Grant, USC will just give me more University Grant $$ to make up for it. And that with or without Cal Grant, I will be getting the same amount of gift aid anyways.</p>
<p>Your counselor is correct, as long as you submit ALL financial aid applications on time your aid will be calculated and awarded based on your need. Cal Grant would be a resource - your total gift aid would be the same (in most cases) with or without it.</p>
<p>But Cal Grant does matter - if you are eligible for Cal Grant, but do not apply on time <a href=“FAFSA%20submitted%20on%20or%20before%20March%202nd,%20GPA%20verification%20submitted%20by%20your%20school%20to%20CSAC%20by%20March%202nd”>/U</a>, USC will not replace your Cal Grant, which is currently worth $9,708 at USC. Don’t miss deadlines!</p>
<p>If you don’t qualify for Cal Grant, USC will not penalize you - they will calculate your need based on the CSS/Profile and award aid. They won’t leave a Cal-Grant-sized gap.</p>
<p>Time to start thinking about financial aid applications!</p>
<p>The 2011-2012 FAFSA will be available January 1st. If you haven’t already, go now to [Home</a> - FAFSA on the Web-Federal Student Aid](<a href=“http://www.fafsa.ed.gov/]Home”>http://www.fafsa.ed.gov/) and get your student and parent PINs. The student will need a PIN and one parent will need a PIN to electronically “sign” the FAFSA.</p>
<p>The FAFSA (link above) and CSS/Profile (go to the Coillege Board site) will be due to USC on February 2nd, 2011. Be sure to start them by mid-January to be sure you have plenty of time to gather all the information and either complete your 2010 taxes or make good estimates.</p>
<p>New applicant deadline: FEBRUARY 2nd, 2011
Many taxpayers will find that they cannot file taxes this year until mid-February at the earliest due to some recent changes. PLEASE remember that **USC’s CSS/Profile and FAFSA deadline for new students is February 2nd, 2011. **You can submit the CSS/Profile and FAFSA using your best estimates in January and then corect your FAFSA online and submit tax return copies after you file taxes. DO NOT MISS FINANCIAL AID DEADLINES!</p>
<hr>
<p>Returning student deadlines:
CSS/Profile and FAFSA: March 2nd, 2011
Copies of tax returns: May 2nd, 2011</p>
<p>All of my siblings are attending college full-time. They attend private colleges, but not as expensive as USC. How will USC split the EFC?
One of them is 24 years old. Will USC still count him as an dependent to my parents and take his tuition into account?
Thanks!</p>
<p>For your siblings under 24 years and attending college: the EFC can be described as being “divided” rather than split. All together it is likely to be a bit more than your EFC would be with only one in college, but overall it is a HUGE financial advantage to have more than one in college at a time (even though it may not seem so to your parents while it is going on ). For Pell Grant, Federal work/study, and Stafford subsidized loan eligibility your EFC will be the amount calculated by FAFSA - your “FAFSA EFC.”</p>
<p>For USC grants, it will be different. They will consider assets the FAFSA does not, such as home equity, and may determine your family can contribute more than the FAFSA EFC. They will consider the varying tuitions at your siblings’ schools (they have easy access to the information) and compare that to the total amount they determine your family can contribute. The GOOD news is that even though they do not have to, USC has been known to also consider the college expenses of family members over 24 and/or pursuing graduate degrees (this has been the case in our family, and we are very grateful they did so).</p>
<p>Be sure all siblings are listed on EACH FAFSA (yours and your siblings) and on the CSS/Profile. If you have not yet submitted the CSS/Profile, be sure to use the “additional info” space to mention that the 24 year old is still being supported and put through college by the parents. If you have already submitted, you can write up a letter mentioning the same thing (I always do both the note on the CSS/Profile and a letter to be sure they notice the information). Include the names of the colleges in which they are enrolled for verification. A note: There is a National Clearinghouse for college enrollment information that colleges can easily check to be sure siblings/family members are actually attending the universitites listed, so if other posters are thinking they might “say” a sibling is in college… it is best to always fill out financial aid forms accurately :)</p>
<p>When corresponding with Financial Aid, remember to be polite, brief and factual - and thank them for looking in to your situation. </p>
<p>Who do I send the letter to, the College board CSS or USC FA? </p>
<p>Also, my sister’s tuition is almost fully covered by Cal Grant and other grants and scholarships her college provided her. Will USC still divide our EFC?</p>
<p>Send the letter to USC Financial aid - contact info is on the website or the first page of this thread. Yes, USC will take siblings into consideration, even when they also receive financial aid at their school. Even if the tuition is just about covered, there are LOTS of other expenses associated with having kids in college, so they’ll look at the cost of attendance rather than just tuition to get an overall picture.</p>
<p>Does anyone know anything about financial aid for summer? I’m a current student and looking to finance a summer semester. I really can’t find much about it, either.</p>
<p>I am recalling that you only qualified for Stafford and PLUS loans? Or did you submit an appeal for financial aid? In some cases, there is an additonal Pell grant that qualified students can access for a summer term, but I don’t believe you are Pell-eligible.</p>
<p>I usually advise students to get pre-approval for summer classes at their local community college to save on tuition, but I think you are a transfer and may have already accumulated your maximum transfer credit. (The maximum is 64 - have you reached or exceeded that amount?) The only thing I can think of for you for summer would be for your parent(s) to take out an additional PLUS loan. Send an email or visit the financial aid office to ask about a PLUS loan for the summer term.</p>
<p>Sorry I don’t have more suggestions - to summarize:
Take community college courses if you have not already transferred 64 units
Speak with FAO about an additional PLUS loan for summer
Apply for Academic Achievement Award for extra units Fall semester</p>
<p>Good luck!</p>
<p>P.S. For others who may be reading: Trustee and Presidential Scholars DO have summer funding available - Trustee Scholars may apply for up to 8 full tuition units of exceptional funding that may be used in summer terms, and Presidential Scholars are eligible for up to 8 units at one-half tuition (and no, you cannot exchange those for 4 full-tuition units ).</p>
<p>I get a Board of Governor’s fee waiver from my California community college. Basically, I do not pay for any of my classes (I only pay for books, fees, and transportation which comes out to be really cheap). Is that considered receiving financial aid at my current college for the CSS profile? For some reason the FA counselor at my CC said it is not considered financial aid even though I think it is based on my FAFSA. Not sure about that.</p>
) Be sure to order the 2011 edition, which is now available. It is useful for all income levels and gives advice on choosing which schools are likely to offer you both need-based and merit-based aid.</p>
). For Pell Grant, Federal work/study, and Stafford subsidized loan eligibility your EFC will be the amount calculated by FAFSA - your “FAFSA EFC.”</p>