I know after room board fees and food, the total can com out to 60k for many colleges. Do people actually pay this much? I remember reading on a lot of well known school’s sites, (USC, BU etc) that students receive on average 40k in aid. Does this mean the average cost is only 20k? Or is the average aid 20k making the cost 40k? How many kids actually pay the full 60k? Can i count on aid, even if I am in the upper class?
Thx
The best way to know if you qualify for financial aid at any college is to run the Net Price Calculators found on each schools website. This will give you an estimate for your potential aid and costs. Each student’s situation is different so you cannot gauge your chances for FA based on some one else’s information.
And yes, there are many families that are full pay and can afford to pay $60K/year. I am a full pay parent for both son’s with my costs totaling around $50K/year.
College friend is paying full price for twins at USC. Ouch!..and then there is the expensive summer programs…double ouch! But they love it. Don’t count on aid. Have lots of options. My son received lots of 50% merit offers at great schools. 2 years later, DD got into the same great schools, with better stats, and received no offers. Go figure. Every year gets more competitive.
If your parents are affluent and you are not in the top 25% of accepted students then you will generally pay full price. Some colleges give scholarships to highly qualified students. All colleges give need based grants to non-affluent students. Again if you are neither, you pay it all.
It is futile to figure out the average cost for each school, as it has no bearing on your situation, and a lot of schools publish misleading information on financial aid to prevent you in doing exactly that.
Yes, we would have to pay $65k for MIT a year, 40% kids in MIT are full pay. MIT has one stat that over 90% of kids getting aid, but that include outside scholarship too. I still can’t figure out what is the average COA for MIT education. I second running Net Price calculator…they are fairly accurate.
Yes. Some people DO pay the full cost of attendance at $60,000 a year colleges.
Can i count on aid, even if I am in the upper class?
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No
Those averages are averages. Low income pay nothing…and get $65k+ of aid.
High income students get nothing. So…that’s how you get “averages”…some get a lot, some get some, some get nothing.
My cousin’s son graduated from USC last year and they were full pay.
Ita crazy kudos to those who can afford it. 240k for undergrad (YES THERE IS A PROBLEM).
That’s your opinion. We were basically full pay for our two kids. We planned to pay for college…and did it. Both attended expensive private universities.
It’s not something every family can do…or even wants to do…but it IS possible.
If you are upper class then you may get merit aid, if you are among the top students admitted. What are your stats??
Yes, we are full pay and pay upwards of that amount per year.
Please ask your parents TODAY how much they’ll pay per year for college. If they’re vague about it, ask then it it will be a problem for them to pay $70k per year (no aid) for a school like USC.
My daughter had a number of high school classmates who spent in excess of $60,000 a year for their college expenses. She went to a public high school in an affluent area where most did not qualify for any need-based aid. If you’re upper class, you’re not going to get need-based aid, no matter what a school’s average aid is. You might get merit aid, however.
34 ACT Single
35 ACT Super
(Taken twice)
3.88 UW GPA
4.54 UC fully weighted
Hardest course load, no rank given
National Merit Finalist (predicted based on score)
‘Spike’ in math
(35 Math, Straight A+ in hardest IB math courses, strongest math student in school, Captain of math team; won statewide award)
Major is CS, I have a couple CS related EC as well.
These are just my stats, if you need my EC let me know.
There are many top 50 colleges where you would get significant merit aid, not HYPSM etc. of course. University of Alabama I believe would give you full tuition plus.
There are many opportunities for higher income families to pay for additional test prep, costly ECs, tutors, etc that may make their students eligible for merit aid.
Just wanted to let everyone know my parents are willing to pay for a high priced education, I personally do not want them to do that though. Thats is why I am asking.
Then your only option is to seek out colleges with merit aid.
Many schools cost less than $60k. All instate schools are going to be less, and UC’s are all good. As a California resident, the OP has WUE options. There is the merit option.
…or a school that’s big into co-ops, or military service. These options are also available to people who think long term but maybe don’t have the money to pay up front.