Fin Aid - let's get some things straight

Colleges and Universities A-Z University of Southern California
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<h2>Okay, you've worn me down with PMs and emails!!! A barrage of answers follows.</h2>

<h2>First, a clarification: many people are using the terms "generous" and "affordable" in discussing financial aid. Properly calculated, it is neither. Financial aid is meant to make college, with much scrimping and sacrificing, just barely possible.</h2>

<h2>Second, to those who don't feel I should contribute to this forum: The simple, obvious solution is for you to ignore my posts. You can do that by going to your control panel and adding my screen name to your "ignore" list. I have already placed your screen name there, and it works blissfully :)</h2>

<h2>Third, I have a full-time job! ALL of the following questions (except the first one) have been answered in the <a href="http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html&lt;/a> several times over. I realize that it is time-consuming to read through it, but it was time-consuming for me to write the 358 posts answering the questions in that thread :) . At a bare minimum, read the FIRST PAGE. There is a LOT of information there.</h2>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1314598-parent-wont-let-me-go-usc-help.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1314598-parent-wont-let-me-go-usc-help.html&lt;/a>
!) Your financial aid will not be finalized until you submit your tax returns. The information on the FAFSA and CSS will be verified using the tax returns, so it will be 1 to 3 weeks before your package is ready.
2)In your opening post, you suggest that your parent is paying $31,000 for a UC - is that correct? If so, your financial picture is not properly illustrated by the statement that your parent earns $40,000/year since the UC did not find you eligible for need0based aid. My guess is that your sibling is receiving need-based aid at the UC.
3) Thank you to Moschisms for the first paragraph of post #10 so I didn't have to say it. It was accurate and to-the-point. </p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1314521-too-late-apply-financial-aid.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1314521-too-late-apply-financial-aid.html&lt;/a>
Submit the FAFSA, CSS/Profile and 2011 tax returns as soon as possible and find out. Anecdotally, I have seen posts from some who received sufficient aid even with a late application, but the guarantee to meet need does not apply to late applications so I can not say for sure.</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1314706-usc-financial-aid-completion-notice.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1314706-usc-financial-aid-completion-notice.html&lt;/a>
I have not been watching the patterns closely enough this year to know for sure, but in general everyone who submitted the FAFSA, CSS/Profile and tax returns will have at least a Stafford loan of $5,500 and most will have a USC grant of some sort. If both those items appear, it is probably complete (except for NMF Presidential, smaller University Scholarships, and departmental awards that will be awarded over the next 3 weeks).</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1314774-usc-finaid-appeal.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1314774-usc-finaid-appeal.html&lt;/a>
Unless there was an error on your FAFSA and/or CSS/Profile, it is unlikely USC will triple your award. Adjustments I have seen have generally been a few thousand dollars unless there was an error on the forms.</p>

<p>Anyone can appeal their award. A first step would be to email <a href="mailto:fao@usc.edu">fao@usc.edu</a> and ask what assets added to your FAFSA EFC to check to be sure there wasn't an error. If you appeal it should be in writing and should include your reasons why you cannot meet your expected contribution - include any additional medical expenses not covered by insurance and an income/expense budget sheet to show them.</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1314263-appeal-fin-aid-offer.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1314263-appeal-fin-aid-offer.html&lt;/a>
See above. Go to the financial aid website - there is a page that details the things USC will consider in a financial aid appeal. If you can't find it, apply the brainpower that made you a student accepted to one of the nation's top universities to seek out the info you need and keep looking.</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1311584-usc-scholarship-notifications.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1311584-usc-scholarship-notifications.html&lt;/a>
Smaller University Scholarships and departmental awards will continue to appear now through the end of April. My daughter received one on April 27th her year. Notification is by letter and by a financial aid email saying that a "change" has been made to your award. </p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1313708-no-mention-nm-scholarship-anywhere.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1313708-no-mention-nm-scholarship-anywhere.html&lt;/a>
NM has not yet informed the schools of the final lists yet, so many NMF scholarships do not yet appear. While you wait, double-check that USC is your first-choice school and FAX in a copy of your NMF award letter.</p>

<p>If you have need-based grants in your award, yes, the NMF scholarship will replace some or all of those grants.</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1313512-paying-explore-usc.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1313512-paying-explore-usc.html&lt;/a>
No, USC does not pay for the 8,000+ accepted students to attend Explore. Explore is not required, and summer orientation, while strongly recommended, is not mandatory. Try to find out all you can on the website and by asking questions to make your decision - GOOD LUCK! (And USC is a GREAT place to be :) )</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1312954-omg-thank-you-usc-0-out-pocket.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1312954-omg-thank-you-usc-0-out-pocket.html&lt;/a>
CONGRATULATIONS!!! That is so great to hear, and I have been hoping to see that news from you!!! </p>

<p>Forums like this are MEANT for sharing great news, and no one should feel they have to downplay their good news - CELEBRATE! The OP has been so supportive of all the applicants, both those who got good news and bad, and I like to think that it goes both ways. </p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1313402-presidential-scholarship-fafsa-question.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1313402-presidential-scholarship-fafsa-question.html&lt;/a>
No FAFSA is needed for the NMF Presidential or other USC merit scholarships. The FAFSA and CSS/Profile ARE needed for the Town and Gown.</p>

<p>Obviously, need-based grants require the FAFSA, CSS/Profile and 2011 tax returns.</p>

<p><a href="http://talk.collegeconfidential.com/university-southern-california/1312866-42-grand-grants-thank-you-usc.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/1312866-42-grand-grants-thank-you-usc.html&lt;/a>
More CONGRATULATIONS! </p>

<h2>Again, the best way to tell if the need-based package is complete is to check for the various elements - at least a Stafford and some sort of USC grant.</h2>

<p>Good luck to all! And you are on your own once again - read the first page of the <a href="http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html&lt;/a> !!!!!!!!</p>

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<ol>
<li>LOL, thank you alamemom. </li>
<li>Yes, reading the informative FA threads studiously. </li>
<li>We appreciate you. :)</li>
</ol>

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<p>Helpful post. I applied for finaid and submitted all information, including tax returns, over three weeks ago. USConnect still has not updated with my award. I get the following error,
"Thank you for visiting the USC Financial Aid Office. Your financial aid information is currently unavailable because your award has not yet been determined. Graduate students should receive their Financial Aid Summaries starting May 1 and continuing throughout the summer. Continuing undergraduate students will begin receiving their Financial Aid Summaries in June. Thank you for your patience. If you have any questions or concerns, or need to speak with a financial aid counselor, please visit [USC</a> Financial Aid](<a href=“http://www.usc.edu/financialaid]USC”>USC Financial Aid) or contact us at <a href="http://www.usc.edu/contactfao.“&gt;www.usc.edu/contactfao.&lt;/a&gt;”&lt;/p&gt;

<p>When should my award be put up? I am an undergraduate student, so the paragraph doesn’t address a date that I will receive my award.</p>

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<h2>My continuing effort to help you help yourselves: Using the “Search this Thread” feature (top right) of the <a href=“http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html[/url]”>http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html&lt;/a&gt; , I found that question answered eight times! But I am very accustomed to searching threads and know what keywords to use, so I will go ahead and answer for you :slight_smile: .</h2>

<p>Based on the past fours years, financial aid applicants who submitted all materials (FAFSA, CSS/Profile by Feb 2, tax returns by March 2) on time can expect their award to post by about the end of the first week of April - so this year by April 6th or 9th.</p>

<p>Those who submitted tax documentation recently or who were asked for additional materials recently will begin hearing around the 6th or 9th of April and that will continue through the third week of April. Those who submitted the FAFSA and/or the CSS/Profile late will begin hearing after on-time applicants are taken care of.</p>

<p>As May 1st approaches if you have not received your award or are appealing your award you can (and should) ask for an extension of your commitment deposit deadline from USC. It will be granted, but be sure to get it in writing (such as in an email). Other schools may or may not grant an extension based on your not receiving your USC information. If the school you would attend will not grant an extension, make your deposit on-time to that school to be sure you have an option if USC turns out to be unaffordable.</p>

<p>In general, though it is stressful to wait, USC manages to get all the packages out before May 1st, though some of the late applicants will be very close to that deadline. Be sure to have your back-up plan at the ready.</p>

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<p>My question was not regarding whether my financial aid package was complete but how it would change after I receive some outside scholarships. If I obtain an outside scholarship (local philanthropist here gives quite a few big ones to promising business majors, in the 5-10k range), will that take away from the grant money in my FA package or the loan/work-study part? I have 42 in grants and another 8 in loans/work-study, so our EFC will still be around 10k, will that change?</p>

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<p>Thank you so much for the help alamemom!</p>

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<p>Yes, I understood your question. As I mentioned, if you would please read page one of the <a href=“http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html[/url]”>http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid.html&lt;/a&gt; you will find that that question has been answered right there on the very first page - the first post, in fact - as well as over a dozen times throughout that laboriously created thread.</p>

<p>Thank you!</p>

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<p>Thanks a lot alamemom, you are a savior! Hopefully I get word of my NMF Presidential Scholarship soon so I can commit and become a Trojan!</p>

9

<p>I feel stupid and annoying.
Thanks for putting up with us annoying teenagers. I’m sure you are just as busy as we are. There’s no doubt you’ve saved more than a few USC students.</p>

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<p>Thanks so much! I have a little more hope now :]</p>

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<p>Thanks for all your time and effort. We appreciate it!</p>

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<p>Hi Alamemom! I’m new to CC. How do I pm you?</p>

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<p>^^ Click on her name (the bold blue name above “senior member”. A screen choice comes up and click on send a personal message.)</p>

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<p>I am not completely sure if my question has been answered if at the very least indirectly, so I will go ahead and post it.</p>

<p>Anyway, would it be a bad idea for me to attend USC (if it ends up being my first choice) if the financial aid package includes roughly $5,000 in loans instead of a university that also offered the same amount of financial aid but without any loans making up part of the package? Specifically, the aforementioned universities are WashU and Vanderbilt.</p>

<p>Thanks!</p>

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<p>Ronaldofan94, loans you must pay back; grants you don’t. In your scenario, it will cost you at least $20,000 more out of your pocket to attend USC than the other 2 universities where you have no loans. You must decide if you feel USC is worth paying more.</p>