<p>Still, several things in this case does not add up:
-- No mention of Cal Grants the Family would be eligible for
-- No mention of UC's Blue & Gold Plan to cover tuition for those earning less than $ 60 K
-- Father loses job. No mention of FA appeals.
-- Next year sibling goes to college. No mention of the favorable impact this will have on aid next year.</p>
<p>Despite these flaws, another article that speaks to the middle-class financial aid trap.</p>
<p>Good story… but the kid can make it if he wants. He probably doesn’t qualify for a Cal Grant because of the parent’s rental property – that’s also what probably drove up the FAFSA EFC. The family lives in LA, kid was accepted to UCLA, so he could opt to live at home and commute to UCLA and avoid the $14K or so room & board charges that are the bulk of the Cal expenses. He also said he had $15K saved in an account for college --(that also would have driven up his FAFSA EFC by almost $4k) – and Berkeley gave him a $200 grant, meaning they did find him eligible for some aid, so he qualifies for Stafford loans as well. </p>
<p>I do think the article would be better if written by someone who understands the financial aid process a little better. (I wouldn’t go around writing sob stories about a kid with $15K in a college fund… its not that I don’t sympathize, its that it is pretty clear to see what is driving that family’s EFC up.)</p>
<p>I found that story very frustrating. Why is his gc encouraging him to fill out all those scholarship applications to the point of it hurting his health? Does she not know the odds? Where is the idea of attending community college for one or two years? Why was this kid not encouraged to also apply to private or oos schools known for merit aid?</p>
<p>If he lives at home and goes to UCLA, it will cost him more like $10,000 for fees and books; he could also get a job on campus at about $8 an hour. The UC’s are still a deal, though the price has doubled in just the last 10 years, no thanks to Arnold and the California legislature. There was a much more compelling story on News Hour tonight about a program to support college search and application efforts of inner city kids in St. Louis who have far less hope of being able to afford far less wonderful colleges.</p>
Remain ignorant about the financial aid process and bank everything on a lottery school?</p>
<p>What’s the sister going to do? Pray that the father doesn’t find a job? If the father got hired to start July 1 at a job that pays $60K a year, he’d earn $30K – added to the $58K the mom makes they would have a joint income of $88K, well above the $60K that a handful of schools look at as the “free tuition” demarcation point. Those are CSS profiles that are going to be counting the equity in that home with the $500K mortgage the dad was wanting to refinance … and there’s still that interest they have in the rental property. </p>
<p>If the dad doesn’t get a job the family will end up losing their home – (that $500K mortgage again… they aren’t going to be able to keep up the payments with a $58K income). </p>
<p>The problem is that people make broad assumptions about the financial aid process without doing their homework to understand the ins and outs about how it works. The sister should be thinking very seriously as she picks colleges to apply to about how she is going to finance attending colleges where she is sure of being admitted. (For example, if her PSAT score is good enough for NM Finalist… she should be hanging on to that mailed brochure from Arizona State). </p>
<p>Again, I think the article would have been more informative if it had been more specific – and this family would benefit from working with someone familiar with the financial aid process.</p>
<p>Actually, since the dad is an accountant, there is a great opportunity for him: he could study up on the ins and outs of FAFSA accounting and the CSS Profile. If he learns enough, he could generate some free-lance income for himself by helping others with college financial planning and preparation of forms.</p>
<p>I also found that article really frustrating when I read it this morning. It’s bad enough that the family doesn’t seem to really understand the FA system (like how much the asset of the rental property would hurt him, or that the 15K in his name would be counted against him.) But that the GC also doesn’t is annoying.</p>
<p>And even more so the reporting–if the reporter doesn’t understand why this family is having problems, and conveys that it’s just an unfair system, then others won’t be educated and won’t know how to approach college costs wisely. That the young man has 15K savings but didn’t want to spend it all this year reflects lack of knowledge; that the family and reporter don’t get that individual EFCs will be smaller when the two kids are in school next year; that online scholarships are unlikely to fill the gap; that living at home and going to UCLA is a great opportunity…the list goes on and on.</p>
<p>Agreed. I really don’t understand why the question of attending UCLA was not explored. That alone (living@home) is the equivalent of a $ 10K scholarship. Working 12 hours/week would help. He’s got an easy commute from Hollywood Hills to Westwood.</p>
<p>Really, there are many things unfair/wrong about FA, but the NYT needs to do a better job of matching examples to themes and explaining things better.</p>
<p>This family wood learn more on College Confidential. For example, Calmom’s post # 5 is priceless for the sister. Being informed is being forearmed – ready to tackle the system with night-vision goggles. Otherwise, you can regret in leisure.</p>