Currently going in as a freshman
Family makes less than 80,000$ a year.
Submitted FAFSA.
Going to live on campus dorms.
Have to pay 10,000$ a quarter.
This is too much.
You are basically paying full costs. How much are your parents contributing vs. loans vs. financial aid/grants?
Also why is this issue coming up now? Didn’t you have a financial package in hand prior to accepting?
Are you a CA resident? If so…and your family income is below $80,000 AGI, did you submit your Calgrant materials before March 2…including your FAFSA?
Agreed…why is this financial issue coming up NOW.
If the cost is really too much…youmwill have to come up,with a different plan.
When DID you submit your FAFSA?
What is your FAFSA EFC?
Are you instate?
If you didn’t get any aid, and you’re instate, then either your family has assets and a high EFC, or you didn’t submit FAFSA and Cal Grant info early enough.
We need more info.
How much will your parents pay each year?
Obviously, if they won’t pay the costs, you won’t be going. The $10k per quarter isn’t going to appear out of the sky.
$10,000 a quarter means $40,000 a year-- is that correct?
So you’re talking over HALF of your family’s annual income on your schooling? And the rest of that is supposed to cover your family’s housing, food, utilities, medical, transportation, insurance, and all the rest?
How on earth did it get to this point? It’s August-- this should have been ironed out months ago. If this is your financial reality, then you obviously cannot afford this school, and I suspect you realize that. You can’t afford to room anywhere; you need to attend the cheapest college you can commute to. Or work for a few years to save the money you need.
Take care of it right now.
Usually students on the quarter system attend fall, winter and spring quarters…so three quarters. Summer, like anywhere else, is optional.
This student sounds like he or she somehow missed the boat on something…at the very least, as a freshman, he or she would be able to get the $5500 Direct Loan for the year.
Really…at this point, I’m guessing he can try to enroll in a community college within commuting distance of his home…but many CA CCs are quite full.
The student needs to come back and tell us his EFC. Since he got no aid with the family income, I suspect that his EFC is high because of assets or he didn’t meet Cal Grant deadlines. If it’s the latter then ask to defer for a year, don’t go to school anywhere, not even a CC, and then submit everything ontime for next year.