<p>Hey all, I am currently stuck in a bind right now trying to pick from UCLA and USC. Both schools have accepted me and I will be majoring in Pre-Business Economics at UCLA and Business Adminstration at USC with a minor in Political Science. However, I have no idea how I can pay for USC. My EFC for USC was 62K, meaning I'll be receiving negligble financial aid. My cost for UCLA will be around 27K EFC. I really want to go to USC, but I do not want to put my parents in the position where they will have to pay for it. Could I take out all the loans in my name and pay it back later? Would it be possible to take out the PLUS loans under me instead of my parents? I love USC, and all that it offers but I don't know what to do about tuition. I have prepared to appeal my aid, but I doubt it will be any higher. Assuming the worst, what should I do? Should I just go to UCLA? My heart is screaming for USC, but my wallet is crying no. Coming out of college with 250K in loans makes my want to cry and probably isn't a financially wise decision. </p>
<p>Thoughts, comments, stories of your own situation? Thanks all!</p>
<p>Go to UCLA and really enjoy it. The financial differences are too extreme and UCLA is an excellent choice.</p>
<p>As a parent I would tell you to not take out excessive loans to attend USC. You will find a place for you where ever you choose. Sometimes you have to make the mature decision. We are having the same discussion in our home. Our son has been accepted at USC (with a Presidential scholarship) but even that is still pricey. We are having him look at all his options. It is hard to do but we do not want him to graduate with any debt.</p>
<p>That’s a HUGE difference in cost for what might not be a huge difference in academics. They’re both good schools. </p>
<p>To answer your question - you can not take out a Plus loan in your name as far as I know And you’re limited to about $6500 in subsidized/unsubsidized loans from the Feds. Plus work study if applicable.</p>
<p>You should appeal your aid anyway. It may not work but the CSS is complicated and it is possible there was a mistake on it. But if your EFC is high, I suspect your parents have a lot of assets USC considers fair game.</p>
<p>If it’s any consolation, a lot of us “middle class” folks were getting EFC calculations that where higher than both FAFSA and USC’s online calculator. Shockingly higher. If you’re near the school, you could set up an appointment with financial aid - or you can talk to them during Campus Preview day for admitted students before you put down a deposit. It was worth it for us to see their “thinking” on how the aid was calculated.</p>
<p>But yes - UCLA versus USC is a $140K difference over four years.</p>
<p>The only other option is to take on loans the first year and apply for a lot of outside scholarships. But honestly - the best ones are often time consuming and not necessarily a sure thing given how many students apply for them. </p>
<p>Or go to UCLA and not look back. If UCLA turns out not to be the right fit, you could always try to transfer. (keep your grades high to maximize your chances of that). Good luck. </p>
<p>Just so you know options, there are loans you can take out in your name that your parent’s co-sign and payback begins after you graduate - you would find these from your bank like Wells Fargo, B of A, etc. Yes, they are pricey and I am not suggesting it, just educating you on what is available. Some parents may do direct parent loans so they aren’t utilizing savings at this point in time and they may have sources of income available in the future that aren’t there now. The thought is when the kid graduates, if parents can help pay it off they will, if not, the kid owns the loans. It’s a family decision. You also need to factor in if you will graduate in 4 or 5 years from UCLA (don’t know stats on that major) and include cost for extra year and loss of income for that year. Economics is also different degree from business, so look at the value to you in getting a degree and minor in what you want. Obviously a lot of kids go to USC borrowing money, and some don’t have to, and some are given scholarships or financial aid -whichever way it goes has to be what works for your family. People will say never borrow, but obviously a lot of people do. Again, not endorsing either way, it’s a personal decision - just talk to your folks.</p>
<p>Wow, can only edit for a few minutes now, just realized that…so to add, some believe the price difference between USC and UCLA is worth every penny, others may not. Even if a family has a kid at each school, it is not definitive, it is still a value judgement on so many variables unique to each individual - private v. public, size, location, accommodations, majors, class size, flexibility, student body, athletics, ambiance - the list is endless. You have to decide if the value is there for you to pay and/or borrow the difference. Only you and your parents can decide that.</p>
<p>The COA for UCLA for instate residents living in a residence hall next year is: $33,085. For a non resident: just under $56,000. COA for USC (current year) is a little over $62,000. These are estimates and include travel, books, etc, so your costs could come in a little lower (or higher). For a student with no FA, it looks like about a $29k difference/year or $116K over 4 years. </p>
<p>If your family will not be able or are not willing to pay that difference, I cannot imagine why a student would put themselves into that enormous amount of debt. Your friends who graduate debt free or with low debt may be traveling the world, living in their own apartment (rather than back at home), saving to buy a house one day, able to take a lower paying job in order to grab a fabulous opportunity with an up and coming venture, or funding their own start-up, while a person with over $100K in debt will not have those freedoms for at least 10 years or more. </p>
<p>You have a great option of going to UCLA, and it sounds like USC could be a luxury you cannot afford. </p>
<p>You can go to UCLA and still root for USC. :)</p>
<p>A good friend is a Bruin alum but one of the biggest USC football fans I know. As he put it, “I love USC; I just didn’t love it $40,000 a year.”</p>
<p>Just an fyi, USC cost of attendance (per their FA website) is $62,245 for the current year, and is increasing to $65,111 for the 2014-2015 academic year. I believe the UC’s are holding to current tuition levels, for in-state students at least.
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<p>We’re in Southern California, and faced the same(ish) situation five years ago. Didn’t need to take out loans for USC but UCLA was less expensive. DS decided on USC because of some smaller merit scholarships and Marshall’s GLP program. He was able to graduate with honors in dual degrees in four years. USC was great… internships, mentors, and so much more. He secured a great post-grad job in September of his senior year and it’s worked out quite well.</p>
<p>That being said, his HS classmates with comparable stats who went to UCLA also did well and thrived in the Business Econ program.</p>
<p>It wouldn’t hurt to reach out to Marshall and explain your dilemma, as there may be some merit scholarships that are at the discretion of Marshall to distribute.</p>
<p>At the end of the day, you have great choices, congrats! But graduating without loans to repay is huge. If we needed to take out loans, we would have chosen UCLA.</p>
<p>Go to UCLA. The excessive debt is just not worth it. They are both great schools, but the price difference makes UCLA a better choice. I can’t believe in this climate that USC is raising tuition by that much. I have had children at USC for the last few years and EVERY year they have increased tuition and after the first year they took away grants. It had nothing to do with performance as both my kids have always been on the Dean’s list and our income did not increase, however tuition did increase! At that point, you are stuck and just have to suck it up.</p>
<p>Just saw the tuition increase for next year, ridiculous. They have reached the tipping point.</p>
<p>It’s too much. </p>
<p>blueskies2day, why are you constantly posting anti-USC barbs and rants? If you cannot afford to attend a private university in general, or this one in particular, it’s time for a dose of acceptance on how economics work… The good news: there are many many schools that a lower sticker price than USC, Stanford, Northwestern, all the ivies, Carnegie Mellon, and even UC Berkeley out-of-state, et al, and some that might give more FA grants or even more $ in scholarships for you. Here and on other threads you have tried to blame others for what you find too expensive. Why the whine? Be honest with what you can and cannot afford and just don’t shop there!</p>
<p>It is not the school’s fault. But I gently suggest it is your continued mistake to think they have a public mandate to charge less. As a smart consumer, you have every right to reject paying such high amounts. That’s what I always advise if the price is too high. Some people might like to shop at Macy’s but if they cannot afford it there, shop at Target. (I do.)</p>
<p>When something is too expensive, I don’t buy it. </p>
<p>I don’t keep complaining about how expensive it is.</p>
<p>Just because we can afford it and have chosen to doesn’t mean I have to be thrilled and overjoyed about the purchase. I am a person with an opinion that differs from yours. You’ve never questioned a purchase? Kid is happy but it is overpriced. I am not alone, but my goodness don’t have a bad word to say or the USC CC gestapo will shut you down with personal attacks. My opinion is something I have a right to, even on CC. Get over it.</p>
<p>First of all Tohmas, college sucks nowadays and hats off to you as a person for being realistic about it. I always tell the kids I work with that college nowadays has to be a dispassionate business decision. I know it’s hard, but both schools are excellent and you can get a good education at both schools.</p>
<p>Have you thought of going to a community college for a year or two and then transferring? If you really have your heart set on USC, then you can always go to a CC, knock of your pre-reqs, and then matriculate to Marshall. It’s something to consider, and so long as your grades don’t collapse you’ll likely get preferred consideration having already been admitted to both schools as a freshman. For example, one of my high school classmates impressed the heck out of me when she took 20 quarter hours at our local CC over the summer, fall, winter, spring, and summer quarters and then transferred into a state school as a junior - after one calendar year. You could just follow the Marshall pre-reqs, take all the classes you need plus a stupid fun elective or two (i.e. cooking) and then transfer.</p>
<p>I’m guessing that your folks are the typical upper middle class doctor/lawyer/business executive who make just enough money to be considered rich but who aren’t truly rich, particularly when they lose half of their income in taxes and then pay a mortgage. It’s frustrating. I learned the difference between upper middle class and upper class in a big way at USC and in living in L.A. in general.</p>
<p>You’ll be fine no matter which school you choose to attend.</p>
<p>I am no USC Gestapo.
I am parent with 2 students accepted to USC.
I do consider USC too expensive, and personally would never pay full price.
My D was accepted with minimal aid, I am encouraging her to forget about USC and take her merit scholarship at another university.
My S was accepted with merit aid, I am encouraging him to consider USC as a possible option.</p>
<p>My previous comment completely agrees with what I just said.</p>
<p>The opinion that USC’s tuition is too expensive is not something anyone here seems to be debating. Without unlimited funds, great FA, or big merit awards, it is wildly expensive, as are many other privates and prestigious out of state publics. So your opinion is not being shouted down. Most agree.</p>
<p>But a family’s decision to pay this high tuition is each family’s individual choice. How can that be USC’s fault? They didn’t force your child to attend; you are the one who permitted it. So continually denigrating the univeristy is misplaced, and those who read enough it over and over are scratching our heads why you ever agreed to send your child to a school that makes you so unhappy. </p>