<p>Award Description Category Offered Accepted
AZ Excellence Tuition Schl/30 Tuition Scholarship 4,000.00 4,000.00<br>
Federal Pell Grant Grant 5,550.00 5,550.00<br>
ACG Year 1 Grant 750.00 750.00<br>
University Grant Grant 4,700.00 4,700.00<br>
Fed Stafford Sub Loan Loan 3,500.00 0.00<br>
Fed Stafford Unsub Loan Loan 2,000.00 0.00<br>
Fed Parent PLUS Loan Loan 18,290.00 0.00<br>
Academic Year Totals 38,790.00 15,000.00 </p>
<p>So basically i ended up getting 15k out of 38.7k from grants and aids. The rest will be on loans. My dad says he can afford it as long as there is loans but im concerned since our efc is 0. I have no idea what to do since i live in ca and wanna go oos. And uhh how do we accept loans im really confused on this. thanks for help:)</p>
<p>*Fed Parent PLUS Loan Loan 18,290.00 0.00 *</p>
<p>Uhhh…if your parents have an EFC of 0, how are they going to qualify for a $20k loan each year? (At least $20k, since as costs go up, the plus loan will go up, too.)</p>
<p>If your parents are low income, they may qualify for the first year, but they won’t likely qualify for years 2, 3, and 4.</p>
<p>Do you realize that your parents have to qualify for these loans based on their income and credit? Who is going to lend a low income family $80K? Do you really think your parents can afford to pay over $1000 a month for Parent Plus loans for 10 years? </p>
<p>This package seems pretty lousy to me. If this school is your top choice, you might want to either consider asking them to offer you some more work-study to reduce the loans or think about getting involved in pimping, prostitution, or something else that will help you replace some of those Parent Plus loans.</p>
<p>This school is offering you the “opportunity” to take out $23,790" in loans for ONE year. That is a huge amount of loans even for a family with an income of $100,000 a year. You’d end college (between you and your parents) with more than $100,000 in debt!</p>
<p>What are your other options? This one is not viable.</p>
<p>PS: This isn’t a tough decision. It’s easy – no way.</p>
<p>What concerns me is that the school KNOWS the EFC is zero, meaning they are likely low income, yet they still offer the huge parent loan.</p>
<p>This is unconscionable. Please do not accept this package.</p>
<p>What is worse is that someone would lend this amount of money to a poor family. When my D was a freshman applicant, she was offered a PLUS loan for half of our total family income…for the first year alone! I called the FA office and asked how anyone could possibly lend us that much money based on our income and I was ASSURED we’d qualify! No problem, they said, you have good credit!</p>
<p>What concerns me is that the school KNOWS the EFC is zero, meaning they are likely low income, yet they still offer the huge parent loan.</p>
<p>The problem is that OOS publics are in a difficult situation when a 0 (or low) EFC applies. It’s not like OOS publics can say, “hey, if you have a low EFC, don’t apply because the taxpayers of this state aren’t going to give you $80k to go to our school.” So, when such kids apply to OOS publics, what’s a state to do when faced with their need? They can’t meet the needs of their own state’s kids, but less the high OOS fees for non-residents.</p>
<p>It’s not like OOS publics can say…“Hey, only apply to our school if you have super high stats and/or very little need.”</p>
<p>The title of this thread is soooo wrong. It’s not a “tough decision.” This is an unaffordable package.</p>
<p>I’m also a bit concerned that the *dad says he can afford it as long as there [are] loans. * Does this dad have any idea that he has to qualify for these loans? Does he have any idea what the payments will be?</p>
<p>And, frankly, if he can qualify to borrow $80k, does that suggest that their EFC 0 was obtained in a misleading way? I’m not saying that it was, it just seems odd to me if the family can qualify for these loans and pay them back. To pay for such loans, the family would have to make payments in excess of $1000 per month. An EFC 0 family? As mentioned above, even a family with a 6 figure income would have difficulty making such payments. </p>
<p>This is a nice school, but so not worth this debt. What are your cheaper options?</p>
<p>hmm i really dont know my situation. My dad used to make 120k+ in the past 10 years but over these last 2 years hes made basically nothing which led our efc to 0. We still live in a 700k dollar home but hopefully i can see other options. Our credit is real good and we can qualify for the loans, im just stuck on if its worth it</p>
<p>No, it’s not worth it. And, it’s really a bad decision considering your dad has essentially been unemployed for the past 2 years. Why would he want to take on $80k in debt when he has no income?</p>
<p>What other schools did you apply to?</p>
<p>You can always transfer to an OOS school when your dad becomes reemployed and can afford the costs.</p>
<p>yea thanks mom that is true. we are basically living off the 120k my dad made in the past years, i got denied by most uc schools except ucr and ucm but i have not turned in the fafsa for those 2 schools because they invited me since i was rejected from the others. I didnt apply to any cal states. My backup would be goin to OCC orange coast college with my friends and finish my first 2 years but my dad wants me to experience the college life :p</p>
<p>Hey guys, I have a question I’m somewhat confused on…This is a brief background…In 2008, I was doing well, had great income, In 2009 it dipped quite a bit and i finally ended up getting my hours cut to about 10 hours a week, so obviously couldn’t make ends meet, I ended getting a job in November 2009 but the paychecks were about half of what I was used to making and was struggling. In 2010, I got accepted to Nursing School and decided to relocate to pursue that, I’m in the process of getting a new job but no luck as of right now, I’m basically living off of the G.I bill, so this is my question</p>
<p>For Spring 2010-I didn’t qualify for any grants or aid from my college because based on my Fasfa I made too much money, I also don’t qualify for Pell because I have a bachelors degree already in a different field</p>
<p>I ended up taking out about $9,000 in student loans. Recently I put in for a special conditions for the 2009-10 Fasa, and the counselor was able to get my EFC down to 0, because of my current circumstances, and I looked at my school account, and listed in my billing for the Spring 2010, it says I have a balance of $3,000, before it was $9,000, and it sayings a direct deposit refund of $5,000, and my apologies if this seem obvious but did they go ahead and apply the $5,000 refund to my loan balance, or because it says it was a direct depost refund, did they reduce my loans and are sending me a refund??? if anyone has been in same situation, a heads up would be nice, either way I’m not complaining, it just would have been nice to have the extra money, and yes I know I can wait and see for a week or so to see, just bugging me and I really don’t want to go the finanical aid office to verify…</p>
<p>There was another similar post for someone from NJ. This is my hypothesis based on the posts and other things that I have.</p>
<p>Arizona State (ASU) has an admit rate of about 90% and very low entry requirements as shown below. However, they are suffering from the budget crisis and have cut aid even for top instate students. So they are admitting a lot of OOS students with little or new University aid. In this package, the University is only giving $8700, the remaining coming from Pell grants (Federal) and loans. They are not going to negotiate very much. Being brutally frank, taking $100,000 in loans for a degree from ASU is not worth it. If you have a EFC of zero, remember the plus loans the interest accrues from day 1 and you may not even qualify based on your fathers financial profile. Go to a cc locally and transfer to a CSU college as soon as you can. It will cheaper, and you will benefit on the long run. </p>
<p>*Students must meet one of the following aptitude requirements:</p>
<pre><code>* 3.0 GPA in competency courses (2.5 - 2.99 considered)
Top 25% (top 26-50% considered)
ACT 22 (24 nonresidents)*
SAT Reasoning 1040 (1110 nonresidents)*
</code></pre>