<p>My EFC is 0</p>
<p>Loyola Chicago 2010 - 2011 aid offer</p>
<p>Work Study - 2000
Federal Pell Grant - 5550
Federal SEOG Grant - 2000
Federal Perkins Loan - 1000
Direct Sub Stafford Loan - 3500
Direct Unsub Stafford Loan - 2000
Scholarship - 12000
Loyola Grant - 9040
Possible ACG grant - 750
Possible PLUS loan - 8952</p>
<p>Total COA - 46792
Total Aid - 46792
Total Aid not counting PLUS loan - 37840</p>
<p>Sooo about 14442 in loans. Should I factor the work study out of my aid? I don't think it's likely I'll use that to help pay for tuition. At least not all of it</p>
<p>I also have 3000 in scholarships but I know there's no guarantee that Loyola will take it out of the loans. They could take it out of my grant. The loans are killing me, though. My parents cannot help me at all so the PLUS loan is out the window. I'm majoring in theatre and minoring in music. I can't convince my parents that the loans are way to much to pay each year (which could increase next year and the years after) for a theatre major. All they can think is "Oh, Loyola's a great school. It will look good" But what would be even better is grad school. I can't imagine doing that, though, if I go to Loyola and take all of those loans out.</p>
<p>I'd really like them to be onboard with my college decision.</p>
<p>I would contact Loyola, thank them for their offer, and tell them that you really want to go there, but you have a 0 EFC and your parents cannot afford a $9k Plus loan each year. Mention that you are willing to do your part with the $8500 in self-help each year (the stafford and perkins loans and work study), but that you are unable to cover that $9k in Plus Loans. Politely ask them to reconsider their FA package. Thank them for their time. </p>
<p>BTW…the Stafford loans will likely increase each year. </p>
<p>(Frankly, it’s unreasonable for a school to expect 0 EFC parents to borrow $40k for one child’s college education. That might be equal to a year’s income. For that reason, it wouldn’t be too bizarre for the school to find some way to close that gap without more loans.)</p>
<p>Unfortunately, at schools that do not promise to meet need, it is not unusual to have such a gap. Even state schools can end up gapping 0 EFC students quite a bit - that is because institutional funding is limited. Stafford loans are capped by year in school, and Perkins is extremely limited. It’s not that schools necessarily want to gap …</p>
<p>Very true…</p>
<p>but, if there’s a chance that they really want this student (don’t know if that’s the case), then there’s a chance they might improve their offer.</p>
<p>However, if the student’s stats aren’t strong, then the request for a re-evaluation may be for naught. </p>
<p>GoldenAge…what are your stats? What state are you from? Are you a under-represented minority? </p>
<p>Also, where else did you apply?</p>
<p>Loyola is a FAFSA only school that does not meet 100% of demonstrated need. According to the college board</p>
<p>Average percent of need met: 84%
Average financial aid package: $27,357
Average need-based loan: $3,810
Average need-based scholarship or grant award: $17,781
Average non-need based aid: $7,796
Average indebtedness at graduation: $35,526 </p>
<p>They met ~80% of OP’s need
need-based scholarship or grant award 21K
need-based loan: $7500
indebtedness at graduation: $31k (considering sub stafford loan increases and not counting the loans her parent would have to take to pay for her education)</p>
<p>I do not think this school is not a financially feasible option for your family. I would advise my child or one of my students to take this financial aid package. I think you need to say goodbye and move on.</p>
<p>*I would advise my child or one of my students to take this financial aid package. I think you need to say goodbye and move on. *</p>
<p>Do you mean that you would tell your child/student to NOT take this package?</p>
<p>I agree that he shouldn’t take this package. But, what is the harm in asking for reconsideration? The request would take a few minutes to write and send. If the answer is then, “no,” then move on. There could be a possible reason that this school may want this student. I have no idea…but if the student is a URM, Loyola may want to improve its diversity numbers.</p>
<p>I don’t know if that outside $3k scholarship is recurring, but if it is, then Loyola would really only have to come up with about $5k more each year to make this more do-able (if the COA is padded in a way that some economizing might reduce the COA)</p>
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<p>My bad, your are right OP should not take the package</p>
<p>Thanks for the advice everyone! The 3k in scholarships are local and not recurring. I don’t think I made into their Honors Program either. I got into NKU’s (plus Wright State’s) and really like it. So that’s also a factor. I really want to be in an Honor’s Program</p>
<p>Stats
Gender: Female
State: Ohio
Not URM
ACT: 29
GPA: 3.98/4.0
Rank: 3/157</p>
<p>I also applied to Northern Kentucky University, Wright State and Ohio State Uni</p>
<p>Your stats are right at the top of mid 50%. Probably not the best place to get more aid; but no harm in asking…All they can do is say, “no,” and then you’ll know for sure to move on. :)</p>
<p>Test Scores
Middle 50% of
First-Year Students<br>
SAT Critical Reading: 540 - 650<br>
SAT Math: 530 - 650<br>
SAT Writing: 540 - 640<br>
ACT Composite: 24 - 29 </p>
<p>Your high school class is small. Is this a private school? If so, can your parents afford to contribute the same amount when you go to college? </p>
<p>Since graduating theater majors are often under-employed, it would not be a good idea to take out a lot in loans. </p>
<p>What is your home state? Won’t those OOS publics be too expensive? Or did you qualify for scholarships that waive OOS tuition?</p>
<p>BTW…is your rank final? I noticed that Wright St gives more money to the Val/Sal students. </p>
<p>Your ACT is very high for Wright State. </p>
<p>mid 50s ACT Composite: 18 - 24 </p>
<p>Hopefully they will give you a great package. 
</p>
<p>Does their honors program give scholarships, too?</p>
<p>It’s not a private school. Just a very small public school! Out in the middle of nowhere. Wright State Honor’s does give scholarships but I haven’t heard anything yet.</p>
<p>NKU is OOS but I live near the border of KY so NKU gives my county and a few others a discounted price. I believe a few other colleges around Cincy do the same for some KY residents. My rank is pretty final as far as I know.</p>
<p>Agreed. I love theatre and I know that it’s a tough business. I can’t imagine going into theatre and taking out that much in loans.</p>
<p>Unless one has spectacular stats, it’s next to impossible to have one’s full need met at public universities even if one is in state. Public schools just don’t have that much money. If one has high need and is OOS, unless you are a prime academic recruit, it’s wistful thinking to assume your need is going to be met.</p>
<p>There are only 2 public colleges that promise to meet the full need of all students: UNC, UVA.</p>
<p>Most private colleges can’t meet the full need of their students. The private colleges that can are the richest ones – and those also are the most competitive ones, places like Harvard and Amherst.</p>
<p>Do apply to some 4-year or 2-year public that you can commute to from home and can afford by working and taking out reasonable loans.</p>
<p>NKU is about 20 minutes away so I could easily commute there from home. Their tuition for one year is about 12,000. I’ve already gotten a 5k scholarship from them and the 3k in local scholarships. I’m just waiting to hear back on my financial aid offer.</p>
<p>Wright State is about an hour and a half away. I would have to live in the dorms if I went there.</p>
<p>Good to know that you have some options!</p>
<p>NSM is right that most publics don’t meet need. However, if generous merit scholarships are given, and some aid, then it might be just about at COA.</p>
<p>NKU sounds like it may be doable this year. However, if those local scholarships aren’t renewable and if you don’t get good renewable grants from NKU, it may not be realistic for succeeding years because the amount of loans that you may have to take out may be staggeringly high. It may be better to start at a local community college and then transfer to NKU for your last 2 years of college.</p>