<p>I went on the websites for the colleges (public and private) that I am applying to and used their financial aid calculators, and I was shocked to find that all of them (except Yale and Stanford) expect my family to pay about double what we can feasibly pay. My dad makes $120,000, which basically excludes us from the definition of having "need," but some circumstances, mostly the high cost of living in Southern California, make $30,000 per year pretty far out of reach. I know the financial aid calculators only give a rough estimate, and I will undoubtedly earn some money in merit scholarships, but my parents are freaking out, and they are starting to hint at me going to a much less prestigious school than I feel like I have worked for (4.33 GPA, 35 ACT). I know scholarships are available, and I will apply for many, but what are some significant ways that I can bridge this gap?</p>
<p>Loans, if you <em>really</em> must go to that school. Stafford loans (though you might not get much with that contribution), and private loans. You could work part-time to help pay for some of it as well. Are you working now? Maybe it is time to start if you are not already and save up as much as you can.</p>
<p>Also, it was only an estimate so you do not yet know what the actual amount will be. </p>
<p>My aid expected my parents to contribute a lot too. How much did they actually contribute? About $0. I still went to a good private LAC.</p>
<p>Apply to a variety of schools and see what aid they really offer you, that is the best way to make the decision. Apply to your prestigious schools, but also some that may offer more aid. You could end up with a free ride somewhere if you set your standards a little lower, and that will give you some ease when it comes to graduating and not having to wonder if you’ll find a job to pay back loans.</p>
<p>Yes to what NovaLynnx says- some students get a greater amount of merit aid, above what the EFC calculates, by applying to “lower tier” schools that want what the student has to offer. It is a personal decision whether going into significant debet is worth it for the school you may have set your heart on. Dealing with the consequences can affect decades of your life, so choose wisely.</p>
<p>Do you. know what your parents CAN pay? Are any of your schools known for good merit aid? THAT’S your sweet spot, and that’s what you may have worked for!</p>
<p>You have great stats…you should be able to get merit aid that will help with the costs. You are also in CA, and at least a couple of your instate publics (actually more than a couple) are schools that others would LOVE to be able to attend at instate costs (UCLA, Cal, CalPoly, UCSD, I could go on but you get the point). I really have to say that UCB and UCLA have the “prestige factor” in their favor if that is what you are looking for.</p>
<p>You would probably get at least a 1/2 tuition scholarship plus a great FA package at USC, as they are eager to land top students such as yourself. Be SURE to complete your USC Common App application by Dec 1 in order to be considered for one of their 150+ FULL tuition scholarships, AND if you are asked to interview as part of the scholarship selection process- GO.</p>
<p>Getting into a prestigious U that you cant afford to go to is like opening a Xmas present and finding crumbs inside. Take it from the mom of a USC grad who was accepted at more “prestigious” colleges , but got all he wanted and needed from USC.</p>
<p>That EFC sounds about right–it’s usually about 25-33% of household income. And it is a shock the first time that parents see the number.</p>
<p>You and your parents need to sit down and figure out what they can pay per year. If their budget is $15k a year, then you need to start figuring out what you can afford with that amount. Figure out how much you could earn by working during the summer and taking on a part-time job during the school year. Then add in the Stafford loan (roughly about $6k a year, though the exact amount changes from freshman to senior year). Please, please, please don’t consider taking on big unsubsidized private loans. </p>
<p>The big money in merit scholarships mostly comes from the schools themselves. Though there are a few private scholarships that offer substantial money, most of the scholarships that you apply to with an essay and your record will give you a few thousand dollars at best. Earning a few certainly helps, but it won’t be enough to close the gap. </p>
<p>Now with a budget, start taking a look at your instate and other options. If you are a National Merit Finalist, check out the NM forum here on CC. If you aren’t, then start reading through the links at the top of this forum and the others below. With your stats, you are sure to find a scholarship somewhere that will intellectually challenge you and give you a great start on life. </p>
<p>After you have a budget, please start a new thread asking people here for suggestions on schools that are like whatever favorites you have. You’ll want to give your stats, your family’s budget, and your EFC. I think you’re going to need to expand your list of schools. </p>
<p><a href=“http://talk.collegeconfidential.com/parents-forum/52133-schools-known-good-merit-aid.html[/url]”>http://talk.collegeconfidential.com/parents-forum/52133-schools-known-good-merit-aid.html</a></p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html</a></p>
<p><a href=“http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html[/url]”>http://talk.collegeconfidential.com/parents-forum/148852-what-ive-learned-about-full-ride-scholarships.html</a></p>
<p>[National</a> Merit Scholarships - College Confidential](<a href=“http://talk.collegeconfidential.com/national-merit-scholarships/]National”>National Merit Scholarships - College Confidential Forums)</p>
<p>You’ve just wandered onto the car lot and had heart failure at the sticker price. Now it’s time to get down to business. It doesn’t matter what anyone else pays for a college degree (that sticker price), what matters is YOUR price (that you manage to get through knowledge and guile). </p>
<p>Get “How to pay for college without going broke” and start working through it with your parents. It’s not just the annual income the parent’s make – it is also where that money is, where your college money stash is and other details that start to move the price needle down. </p>
<p>There are other paths to trim costs too. For instance, you may be able to test for credit for a course or two. Or, if you are a rentacop, you may be able to attend a college that gives you some course credit for life experiences. See if there is an online or community college course that will transfer (important point!) so you can pick up some credits that way. </p>
<p>Piece by piece is the way most families get this stuff paid for – some scholarship, some work/study, some loans, some family sweat — but you have to understand some important details before you can be shrewd about navigating a path.</p>