<p>Do students admitted early (January) receive financial aid packages soon after they are admitted, or do they generally need to wait until march to get their package? It seems the waves have been somewhat different from the past, but from what you’ve seen, when do they know their package? Also, it seems like a dumb question, but many of the great packages I’ve seen have been for students that also received the presidential or trustee scholarship, but is financial aid still met to the fullest extent for students with a very low USC estimated contribution? Some of the USC grants I imagine would be very large but I wonder how much receiving a merit scholarship or not would affect someone with a very very low estimated contribution.
Thanks a lot!</p>
<p>They would have to wait till decisions of the major scholarships, I think.</p>
<p>Great questions!</p>
<p>In the past, the financial aid packages for all students (including those accepted in January) have been presented near the end of the first week of April. It is a LONG time to wait, but it will be in plenty of time to make an informed decision before the May 1st commitment deadline.</p>
<p>USC meets the USC-determined need (using the CSS/Profile) for all accepted students, including those who are not awarded the large scholarships. The grant total (USC Grants, Pell, Cal Grant, SEOG, ACG, etc.) can indeed add up to more than the Trustee scholarship, but of course that would be in the case of students with highest need and would not represent a “typical” package.</p>
<p>It has been my observation that for students with a very high USC-determined need, receiving the scholarships or not does not affect the amount they unltimately pay.</p>
<p>For students expecting “some” need-based financial aid, it is important to remember that the scholarships are considered a resource in calculating your aid. So, for example, a student who USC calculates has a USC-determined <a href=“REMEMBER,%20USC-determined%20need%20is%20calculated%20using%20the%20CSS/Profile,%20so%20your%20family%20contribution%20may%20differ%20from%20your%20FAFSA%20EFC!!!”>B</a>** need of $35,000 and a family contribution of $17,000:</p>
<p>COA: $55,000
Family contribution:$17,000 (PLUS loans will be offered if needed for this amount)
Student summer earnings expectation ~$2,000 - $3,000
Need: $35,000</p>
<p>With no scholarship, a package MIGHT include:
Stafford subsidized loan $3,500
Stafford unsubs: $2,000
Federal work/study $2,000
USC Grants, Cal Grants, Pell, SEOG, etc. totaling $27,500
TOTAL Package: $35,000</p>
<p>With a Presidential scholarship, the package would be adjusted to reflect the resource and that same student MIGHT receive:
Stafford subsidized loan $3,500
Stafford unsubs: $2,000
Federal work/study $2,000
Presidential Scholarship $20,000
USC Grants, Cal Grants, Pell, SEOG, etc. totaling $7,500
TOTAL Package: $35,000</p>
<p>With a Trustee Scholarship, the adjustment would be:
Stafford unsubsidized loans: $5,500
Trustee Scholarship: $40,000
USC Grants, Cal Grants, Pell, SEOG, etc. totaling $0
TOTAL Package: $45,500</p>
<p>I hope that gives a basic idea of how need-based aid is combined with merit aid. Remember, these examples are completely made up and do not reflect the package YOU will receive. Your package will be based on the unique and extensive information on your CSS/Profile, FAFSA and tax returns and there is no way that I can guess or estimate individual packages. See the first few pages of this thread for lots more information.</p>
<p>Best of luck!!!</p>
<p>Thanks a lot alamemom, your help all over the forum has been awesome - I appreciate it!</p>
<p>Hi alamemom!</p>
<p>I have a question regarding assets:
Is there a cap on home equity? As in only a certain percentage of the home would be considered as an asset?</p>
<p>Uhm i was just about to submit my Css profile application? But it asked for an application fee and fee for the college i selected, which totaled to $25. This may be me just being too paranoid, but are we suppose to be paying money to submit the CSS profile? I keep hearing my counselors yelling “NEVER PAY TO SUBMIT MONEY FOR FINANCIAL AID!!!” So ya… i am on the right site right? and im suppose to be 25?</p>
<p>Yes you are!</p>
<p>You should never pay to submit the FAFSA (FREE application for financial aid), but indeed there is a charge for the CSS/Profile. It is administered by The College Board (the SAT people), and they are a for-profit company. Be sure you are on The College Board website (it was a good idea to stop and check!) and then you can feel safe in submitting.</p>
<p>cool awesome lol just making sure ;] Thanks!</p>
<p>I was wondering about the fee waiver? How do i get it? Also, if i don’t get a few waiver, how do i get a fee waiver payment code for a specific college?</p>
<p>i believe you get college board fee waiver codes from your high school counselor. i don’t know about your second question.</p>
<p>Thanks for your help (again) alamemom! I emailed Financial Aid on your advice, and I have to take out an additional PLUS loan, since that’s pretty much all I qualify for… so helpful. Thanks again!</p>
<p>the deadline for Continuing students is March 2nd, right?</p>
<p>I am boosting this thread up to the top!! Please read this thread thoroughly. There have been long hours spent developing this thread for the benefit of parents and students alike.</p>
<p>We are 14% partners in a Sub-S partnership. Will we need to submit the full Sub-S corporate tax return, or just our Sub S K-1?</p>
<p>Alamemom Please come back. So many students and parents need your help.</p>
<p>bbgg,
We are unpaid volunteers here who love SC and want to help. Alamemom has a career and does this in her “spare” time. I think she has taken a much needed break.</p>
<p>Contact usc.edu/admission or phone 213 740-1111 with questions.</p>
<p>Architecture: 800 281 8616</p>
<p>Marshall: 800 352 5719</p>
<p>Engineering: 800 526 3347</p>
<p>Occupational Therapy: 866 385 4250</p>
<p>I do not have her specialized knowledge to answer the detailed financial aid questions.</p>
<p>Thank you Georgia Girl</p>
<p>I received my parents’ 1040 today. I updated my FAFSA information, but are we required to update the CSS Profile forms?</p>
<p>You cannot update the CSS Profile online the way you can the FAFSA.
Generally one makes changes onto a copy of the CSS Profile, just by crossing out the old figures and replacing with new ones, and then sending it to the universities. At least that’s what we did.</p>