Financial Aid at USC

ranganz
Sun, 25 Jan 2009 14:26:20 +0000

I am a high school senior from Michigan, applying for the Fall 2009 semester. I was wondering, how generous is USC’s financial aid office for need-based aid? I’m a relatively borderline student, so if I get in to USC then I likely won’t qualify for any merit based aid. My EFC came out to be about 23,000, but it is vastly overestimated since my mother just lost her job and she cant seem to find another one in this terrible Michigan economy (FAFSA didn’t take this into account, as it was filed with the previous year’s finances). Add to that the fact that I have a twin brother who is entering college at the same time, and his EFC is also 23,000 so altogether my parents have to pay 46,000 per year for college. My parents are separated, so they have separate bills/ taxes/ w/e. I live with my mom, who just lost her job and is now deeply in debt. My dad (who lives in California) can contrubute about 12,000/yr, but that may be for the both of us (my brother and I). My mother has SOME college savings, but it is in some Michigan Education Trust plan which is only for michigan colleges (so it will ALL be going towards my brother, who is attending the University of Michigan next fall). My father does not. So our FAFSA is vastly overestimated.

So how much of USC’s financial aid comes in grants? Since my EFC is so overestimated, I will likely have to take the difference between how much my parents can pay and what my EFC states through student loans (probably about 13,000/yr). If USC gives all the aid in grants, then I should be able to afford it since the loans should be managable. But if they give most of its aid in loans, then I’ll be taking FAR too much in loans, putting me neck-deep in debt when I graduate. A few loans from USC (like 7,000/yr) might be managable, but any more than that and I’m screwed.

I REALLY want to go to USC, but if they don’t give me enough financial aid in grants, then there is not way I can afford it!

Thanks everyone.