<p>^^^^There is a reason you are getting loans. You have high EFC.</p>
<p>My financial aid package sucks.
I got $5500 in loans.
and nothing else.</p>
<p>"The difference between your USC estimated cost of attendance (shown below) and your total financial aid eligibility is $48,268.00 "</p>
<p>…
any advice?</p>
<p>Do you have any financial circumstances that have changed (negatively) since you filed your FAFSA and CSS/Profile?</p>
<p>Can you afford that amount? If you cannot afford that amount, did you apply to a financial safety that you can afford?</p>
<p>You might try posting on the financial aid forum, they have lots of expertise and advice to offer. They often suggest a less expensive college for two years and then a transfer to the desired, but costly, college.</p>
<p>Someone posted on the USC forums how the EFC is calculated. I would check what you entered on the FAFSA and CSS/Profile to see if you made any mistakes. Remember, USC takes into account your parents assets, which include home equity and investments (other than IRA). Assuming no errors on FAFSA or CSS, then your parents must have a very high income and/or significant value in assets.</p>
<p>Sarararah, your in a tough spot. We have a high FAFSA EFC too and an even higher USC EFC. We were fortunate enough to get the Presidential Scholarship, but if it weren’t for that our financial aid offer would have been very similar to yours.</p>
<p>I totally empathize with your situation. Your only options are to call USC ask them what your USC (CSS profile) EFC is. See if your home equity numbers are correct (you home value may be lower than you indicated) and maybe sit down with a financial aid officer to make sure you filled everything accurately. </p>
<p>Also if by chance your parent’s income has decreased you can appeal your award. </p>
<p>You can get loans too, but ending up with about $200,000 in loans after four years probably isn’t too appealing.</p>
<p>Good Luck!</p>
<p>$49,268.00
I’m happy :)</p>
<p>^ oh my gosh! that’s a good package!!
what is your parents’ income? (if you don’t mind :P)…and did you send in all your forms in time but still get several requests for more forms? coz that’s what’s happening to me</p>
<p>Zwankie, that’s pretty much what I got too!</p>
<p>Thanks for the advice everyone!</p>
<p>im happy with my financial aid =]</p>
<p>I’m waiting…</p>
<p>My total package is $41,926 with $2000 unsubsidized loans, $3500 subsidized loans and $2500 work study… got a HUGE ass grant! So excited. Leaves about $11,800 to cover each year which just may be doable!!! FIGHT ON!</p>
<p>My family income is about 62k, but I received my FA today and apparently my USC calculated contribution is 29,760, even though on the FAFSA it is 7250. </p>
<p>Our home is worth about 270k, but we still owe about 270k on it. My parents are in the military though and when I called the financial aid office, the lady told me that our military benefits are mainly whats causing our USC calculated contribution to go up. </p>
<p>Does anyone have any idea what’s going on? Exactly what do military benefits do? I don’t think this is right that our estimated cost is about half our income…</p>
<p>I mean my parents pretty much made me fill out the FAFSA and CSS myself, so I’m not too sure exactly about half of this stuff. T-T</p>
<p>Squadus: I would have your parents review the info you put down on the CSS. Check the section on military benefits. Also check to make sure you did put 0 for home equity. Even though the value of your house is 270k, you still owe 270k, therefore the equity is 0. Rough calculation: Assets (savings, investments, home equity) - $50,000 and then multiply by .12. If you do that with 270k you get close to your increase. This is very rough estimate.</p>
<p>yeah!! i got a good fin aid packet!
only $5,500 in loans, and i have to come up w/ $4,570…
yay! after waiting forever to find out!
def. doable!</p>
<p>@ me722</p>
<p>What was your EFC and USC calculated EFC?</p>
<p>my calculated EFC was 0, and my USC one is 4,570.
but I got a $6,000 scholarship, so I’m hoping that will cover that.</p>
<p>The outside scholarships can generally be applied to subsidized loans and/or work/study, but they would have to completely replace need-based grants before being applied to your EFC. Congratulations on getting the outside scholarship! That will be very useful in reducing the amount you will have to borrow and the amount you will have to work during the school year.</p>
<p>so far these look like really good packages. I still am waiting on mine, but overall it looks like USC is giving out some great aid. Just hope some of this good luck rubs off on me :)</p>
<p>ok just checked my fin. aid. I got $5,500 in loans. That’s it nothing else. Well it looks like I won’t be attending next fall. :(</p>