Is this a bad FA package?

mom2collegekids
Sun, 12 Apr 2015 02:14:26 +0000

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Sorry but nearly $21,900 in loans for freshman year sounds ridiculous.

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Of course it sounds ridiculous. It is ridiculous. Some is yours, and about $15k is your parents.

Your parents have an EFC of $15k per year. If you’re saying that they can’t pay much/anything out of current income and they must borrow their entire EFC, then this school (and similar) is not affordable.

Talk to your parents. What are they saying? If they’re saying that they can pay $10k per year out of income, then if they have to borrow $5k per year, then that is their decision to make as to whether that’s affordable considering whether they have other kids, etc.

Frankly, if your parents can pay $10k per year, then the other $5k could probably be “covered” by choosing less expensive housing, working full time over the summer and saving that money, buying used books, etc.

I’m guessing that this UC is Davis. If so, then hopefully your travel expenses won’t be very high since you’re already from Northern Calif.

…on campus…off campus…commute
Tuition and fees $13,896 $13,896 $13,896
Room and board $14,218 $8,201 $4,643
Books and supplies $1,560 $1,560 $1,560
Estimated personal expenses $1,522 $1,928 $2,011
Transportation expenses $620 $1,358 $1,640
Estimated Total $31,816 $26,943 $23,750

looks like if you live off campus, you can save about $6k per year.