Financial Aid at USC

alamemom
Mon, 26 Jan 2009 16:11:10 +0000

ranganz, I am not sure you fully understand the “EFC.” That is the amount your family is expected to contribute to college for a given year, not “per child.” Having two children in college at the same time is a financial benefit if you are eligible for aid, because your EFC is spread over both children. Be sure to submit a FAFSA and CSS/Profile for BOTH children, and on each note that there are TWO children in college. When your financial aid packages are put together by colleges, the total EFC for BOTH students should be about $23,000, not each (unless the colleges do not meet full need).

As UCLA and UCB have estimated IN-STATE cost of attendances of about $26,000, your EFC of $23,000 means that they will cost about the same for your family as USC, unless you have significant assets on the CSS/Profile that are not assessed by the FAFSA-only UCs. USC guarantees to meet full USC-determined need, while the UCs do not. Both offer Subsidized loans, work/study and grants as part of the packages.

Make sure your paperwork is filled out properly and submitted well in advance of all deadlines. Try posting your question on the Financial Aid forum - there are some great financial aid experts over there.

Good luck!!!