Agreed
I was obliquely referring to my student. The best case scenario was earning a Trustee tuition scholarship; then working towards smaller, more specialized/local scholarships to pay the 18-25k room/board/fees COA (already my kid has earned a bit on this side of the ledger).
This morning, there was best-case scenario hope. This evening, my kid needs a more aggressive plan to make this option work.
That’s how we felt last year. S23 liked USC and wanted to apply, but we agreed that he could only attend on a half tuition scholarship or better. So when he was deferred from EA, he chose not to proceed to RD, withdrew his application and crossed it off his list without a second glance.
Best of luck to this year’s applicants, I hope everyone who is accepted (and wants to attend) finds a way to make it affordable 
The crazy thing is that there are 80k applicants lining up to pay or pay some portion of it. I wonder if their yield would be higher if they weren’t so expensive-or maybe it’s just on par with every other top private.
Just to add that USC also offers generous tuition exchange scholarships to applicants from other member schools. (I think there are over 700 colleges/universities that participate in the tuition exchange program.) No clue how many tuition exchange scholarships USC offers each year, but these awards are generous–scholarship covers 80% of tuition plus they stack with other scholarships. My D23 received tuition exchange last year after getting deferred EA. (We were full pay and chasing merit.) Getting tuition exchange at USC was like hitting the lottery.
Thank you for sharing that.
That’s an amazing offer - truly hitting the lottery.
I hope you can make it work. Is it possible that you will get some FA, still? FWIW, McCarthy is not guaranteed for Dean’s Scholars.
Depending on your ideological viewpoint, you may want to think long and hard about going to a public school in Florida. There is a bit of state government interference going on there with universities.
This has upended my kid’s plans for sure. The list we had was safety to lofty, affordable in-state to gotta hustle. My kid’s application has rigor and a spike in sports, arts pursuits and volunteering. Average excellent in many ways.
The thing is, what turned my kid’s head months ago is now out of reach, so I’m like, “okay, kid, what are you going to do about it scholarship-wise?” The past 24 hours has burst what apparently was more of a bubble than we realized.
The next month and change is going to be a bit chaotic, as we are still waiting on schools.
My goal is to have the kid apply to remaining outside scholarships. Unfortunately, some of the best out-of-institution aid is already wrapped up for the year.
Welcoming all thoughts and suggestions. Being a parent and defacto counsellor has been an experience, for sure. With one kid, it’s advisable not to biff things being belief and the family has some hustling to do.
(No idea about FA and we did submit a housing application - did not know this about McCarthy. Coming up just short on the PSAT keeps haunting my kid for sure.)
The vast majority of aid comes from the colleges. Most of the deadlines for larger external scholarships have passed. I would have your student start with their HS counselor for a local scholarship list. But…most external scholarships are relatively low amounts and only for one year/one time awards.
Additionally, most schools including USC will decrease any financial aid given (often starting with loans/work study) dollar for dollar if the student earns any outside scholarships. Here’s what USC’s website says:
Scholarships from Outside Sources
Federal regulations require that we consider all of your resources when determining your eligibility for financial aid. If you are a recipient of an outside award not listed in your Financial Aid Summary, please send us a copy of your scholarship award notification so that we can adjust your financial aid package accordingly and notify you of the revision.
Most scholarships will replace some type of financial aid in your aid summary. If you would like to know how your scholarship will affect your financial aid eligibility, please contact our office.
I don’t get why this thread is just attacking USC? Is it just because their nickname makes them an easy target? From a straight tuition standpoint Harvey Mudd is $80k, Pomona $76k, Brown, Penn, Dartmouth, Chicago $72k, Tufts, Carnegie Melon, franklin Marshall, Claremont Mckenna $69k.
The cost of living for USC is actually a little less than other private schools in California. The state is expensive, no getting around that.
Yes, college tuition is insane, but USC is hardly alone and definitely not the worst.
Very true. LMU comes in right around $90k. Santa Clara is $82k. My oldest is at Occidental College and was a little over $83k last year all in. USC is not alone
That’s because someone posted the increase in COA for USC.
S24 applied to USC and now I realized I would need to stop eating, if he chooses USC.
If you want us to attack all the listed schools, feel free to start a thread and we’ll follow.
USC is the focus of OP’s thread.
I think you mean COA, not straight tuition?
IME, some of the schools listed have better financial aid than USC, especially for lower income families. You can see comparisons at IPEDs, the net income section.
Here’s USC: Average net price of attendance for full-time, first-time, degree/certificate-seeking undergraduate students who were awarded Title IV aid by income:
| Income | 2019-20 | 2020-21 | 2021-22 |
|---|---|---|---|
| $0 - $30,000 | $17,287 | $12,404 | $12,880 |
| $30,001 - $48,000 | $17,345 | $12,875 | $14,852 |
| $48,001 - $75,000 | $22,826 | $18,626 | $19,991 |
| $75,001 - $110,000 | $32,363 | $27,959 | $26,959 |
| $110,001 and more | $52,917 | $45,251 | $52,817 |
And U Chicago:
Average net price of attendance for full-time, first-time, degree/certificate-seeking undergraduate students who were awarded Title IV aid by income:
| Income | 2019-20 | 2020-21 | 2021-22 |
|---|---|---|---|
| $0 - $30,000 | $2,500 | $2,993 | $958 |
| $30,001 - $48,000 | $4,777 | $3,316 | $1,595 |
| $48,001 - $75,000 | $8,375 | $7,432 | $3,596 |
| $75,001 - $110,000 | $19,895 | $13,648 | $13,531 |
| $110,001 and more | $46,267 | $41,816 | $47,835 |
I personally had a student with a zero EFC receive an FA package from USC with net COA of $12K. Which stood on appeal. Ridiculous and embarrassing. Obviously he didn’t attend.
FWIW, our eldest son missed the National Merit cutoff by 1 point and it ate my heart out for a while. (Back then, I had no idea how it worked. The school told me he just needed to be in the top 1%. Not so - each state has a different cutoff and I didn’t know that. Had I understood, I would have had him prepare. But, because he had already met the top 1% bar as a sophomore, I didn’t think he had to. Lesson learned.) That said, the end result for my son without a NMF Presidential Scholarship and the two that did get it wasn’t that different. It is true that more of it was loans for #1 kid, but the end result is he got his degree from USC, wouldn’t have it any other way, and can manage the student loan payments.
I may be an outlier here but I think debt isn’t such a bad thing, depending on the circumstances. 3 of my kids were really invested in USC because of their particular majors and because we are a USC family. Our fourth kid was not particularly invested in USC, because it wasn’t the epitome for his career goals and he ended up with a much better financial situation at an elite university.
It really depends on how invested your kid is in USC and what you are willing to do. For me, I was willing to go into some debt to send my kids to USC, because it was the best place for their career goals and I was emotionally attached to USC. But, if you are a family that looks at USC as merely one of many fine schools and he could be happy anywhere then, of course, choose an option more financially viable.
I will also say that, if USC wants to start being more competitive with top tier students, it would be nice if they would revisit how they handle “need.” To someone who isn’t 100% invested in USC, why go to USC and accumulate debt, if you can go to Stanford, Vanderbilt, WashU, UChicago etc. and graduate with NO student loan debt? Seems like a no-brainer.
For 3 of my kids, it was not a simple call because USC was their #1. People may call me foolish, but kids have 4 years to pursue their dreams and I’m all for encouraging that, even if it means some debt.
Best of luck to you and your kid. It sounds like he will have some great options and everything works out in the end. Fight On!
This is disappointing. USC just discontinued their AAA awards. Students could apply for this and it would allow them to take more than 18 units at no additional cost, including taking classes over the summer. Was a way to save money for students pursuing a double major or minor.
You get a refund.
California law doesn’t allow scholarship displacement for students who qualify for Pell and/or Cal Grant at California public and private colleges. If the student in question is not a Pell/Cal Grant recipient, then USC’s policy is to replace student loans and work study with outside scholarship funds. That’s not stacking but it still benefits the student.
This is very disappointing for current students who counted on AAA to complete their multiple majors and minors. Current students who qualify for Exceptional Funding will still be able to access additional funds, but it will no longer be available to students who matriculate in Fall 2024 and beyond.
This thread isn’t an attack on USC, more allowing the gut reaction and chance to vent that college tuition is as high as it is these days, USC and elsewhere.
Agree with @legacymom1 - while discussion on debt on CC seems to paint it as all evil, there are times it is def the right choice. It is a personal choice. Student/parent loans actually work very well for many people to achieve their dreams, but we only hear about their failings. Also, in CA, many leverage real estate - a homes’ value can rise $400k pretty quickly - and that is used to cover that crazy tuition in the end. One size does not fit all in the paying for college game. We saw the value and reaped the rewards in sending our kids through USC - not a single regret. But that’s just our opinion and one of many varying opinions.
Obviously, many families can or choose to make this high tuition work at very fine universities, and others will spend less at very fine universities. Some see the the value and othes do not. Value is subjective; some see the value in a $100k Mercedes, others think that’s insane. Both opinions are valid. It is up to each family to decide what is right for them.