<p>My family's EFC is $1870 (and we also have some debts). I was just accepted by UCLA and Berkeley (I'm a candidate for a Regents--full ride--at Berkeley, but I'm definitely not counting on that).</p>
<p>However, I just read the provisional fin.aid letter from UCLA and it does close my package, giving me all but $1870 (about 21K out of the 23K/year), but there is $2500 work study, which I can understand, and $6500 in LOANS. All this is per year. </p>
<p>Do those loans seem too high to anyone else?
I received a full Cal Grant, only half the maximum Pell Grant, and 4K from UCLA as a University grant.</p>
<p>I will definitely appeal to the Fin. Aid Office.
Should I expect lower loans from anyone else or am I dreaming here?
Any advice or comments?</p>
<p>The loan portion is high, but I've heard of much worse. If they didn't include an expected summer work contribution, they are figuring the actual total loan component at $14k over four years - which would mean the offer is a bit on the generous side (even for a private institution.) I have no idea what the policies are at publics in general these days. Comparison with privates would be unfair (they could be better or worse.)</p>
<p>I have read that the average college student graduates from college with $20,000 in loans.</p>
<p>You can appeal, and perhaps your loan burden will be lowered. If not, you might want to consider a lower cost college because unlike what happens with college students with more affluent families, when you graduate, you're probably not going to get much help from your family for things like apartment deposits, a car, insurance, furniture, etc. Consequently, you may wish to attend a college that would allow you to graduate with less debt.</p>
<p>Since you're a finalist for merit aid at Berkely, It sounds like you're a strong student, so you may be in a good position to get a better aid package.</p>
<p>CONGRATS on your acceptances, relfecting your hard work. Unfortunately, the UC's use a lot of personal aid, i.e., loans and workstudy, as a matter of public policy (as directed by the Regents). Hopefully, Cal will come thru with a better offer. :)</p>
<p>if a school meets 100% of need- they can meet it with any amount of workstudy/grants and loans.
I would be very impressed for a public school to meet 100% of need, usually that is reserved for private schools with big endowments.
I don't know if your summer income is being taken into account for your EFC, but my D earns about $3,000 during summers to apply to tuition, her work study does'nt go to tuition but to school year expenses like books,a nd while your loans are more than hers, she is attending a private school.
( i think maximum pell is reserved for famiies with 0 efc- but ask about Perkins loans- does UCLA offer them?)</p>
<p>"Financing a UC Education
The University wants every student it admits to be able to attend regardless of his or her economic background. Achieving this goal requires a partnership involving students, parents (in many cases) and the University. The University administers a variety of financial support programs for students. In 20032004, 64 percent of UC undergraduates received some form of grants, loans, scholarships and work-study; the average award was just over $11,500.</p>
<p>UC students finance their cost of education through a partnership consisting of the following:</p>
<p>Parents: Parents of students under the age of 24 are generally expected to contribute toward the cost of their child's college education. Using federal guidelines, the University analyzes information provided on the financial aid application about parental income, assets and household size to determine the size of this contribution. Parents with particularly low incomes have an expected contribution of zero. </p>
<p>Student: The University expects all financial aid recipients to help cover the costs of their education through a combination of working and borrowing. The Universitys aid program is designed, however, to limit the need to work and borrow to reasonable levels. Grant funding should be adequate to limit 1) the need to work while enrolled to no more than 20 hours per week, and 2) the need to borrow such that payments are manageable given the average expected earnings of UC graduates. Being awarded scholarships can reduce the need to work and borrow. </p>
<p>University: The University administers grant programs that provide gift assistance from a variety of sources for financially eligible students. If grants from federal and state sources are inadequate to keep the need to work and borrow at reasonable levels, the University provides students with its own grant assistance. To evaluate a students eligibility for financial aid, the University looks at the cost of attendance and the expected contributions from parents and students. If costs exceed the expected contributions, the University looks to other resources to help them cover the costs. For a better sense of how families with various financial situations might finance a UC education, see UC's online financial aid calculator. </p>
<p>the UC's are $22/23k in-state. For OOS, the cost of attendance is $38-40k, depending on the campus (Berkeley is the highest due to housing costs).</p>
<p>blue: my 2006 book has in-state for Berkeley at 6K + 11K for room/board + $1240 for books/supplies -- so about 18K for instate).
Tuition is free for in-state, 6K is for "fees". (I'm a CA native and lived there for 40 years. I also went to a UC school on "free tuition" - just paying "fees"). Your OOS numbers are the same as my book.</p>
<p>I am a Cali resident. Thanks to everyone for their posts.
I have been advised to calculate my own estimations of expenditures since the UCLA 'budget' is the average dorm and transportation fees.
I guess I can eat Top Ramen for 4 years..?</p>
<p>You probably can eat Ramen for 3 years. IF you live in the Dorms freshman year are you required to purchase a specific food plan?</p>
<p>Are you within commuting distance from berkley? While you may have a totally different college experience from living on campus or in the vicinity, it would probably cut out the $6000 in loans (most which is probably going toward room/board fees).</p>
<p>While you may have to bite the bullet this year, you can look into ways to reducing your expenses like finding out out your book list as early as possible and borrowing some of the books from the library as opposed to purchasing.</p>
<p>Finding out if you can become an RA next year and if being an RA includes getting a free room, this will save you a lot of money.</p>
<p>Personally, I think only having $6,000 in loans and having 100% of your need met from a public university is great. </p>
<p>It sounds like your loans consist of the max. subsidized stafford loan $2625 and and the balance in a perkins loan , which is awarded to undergraduate and graduate students with exceptional financial need (with an EFC of 1870, you would be considered having an exceptional need).</p>
<p>Unless you are applying to a college that virtually eliminates or reduces loans for low income students, you may end up with this combination of loans no matter where you attend (private of public). The upside to the scenario which you have presented is at least the Berkley has not gapped you leaving you to come up with money that you don't have and have no way of getting.</p>
<p>University: The University administers grant programs that provide gift assistance from a variety of sources for financially eligible students. If grants from federal and state sources are inadequate to keep the need to work and borrow at reasonable levels, the University provides students with its own grant assistance. To evaluate a students eligibility for financial aid, the University looks at the cost of attendance and the expected contributions from parents and students. If costs exceed the expected contributions, the University looks to other resources to help them cover the costs. For a better sense of how families with various financial situations might finance a UC education, see UC's online financial aid calculator. </p>
<p>I think it is ridiculous that the UC schools charge so much for their dorms/room and board ($12,500). Usually "state" schools only charge about $6k - $7k).</p>