<p>AMX, binks09 has come on this thread to rant because he is disappointed he was not able to attend USC because his parents very sensibly refused to pay the extra money for USC when binks09 had a wonderful opportunity to attend UCLA at a much lower cost. He was in no way “screwed” by USC.
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/673830-extenuating-circumstances-arent-reflected-fafsa.html#post1062076886[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/673830-extenuating-circumstances-arent-reflected-fafsa.html#post1062076886</a></p>
<p>His $40,000 FAFSA EFC is appropriate for his family’s $150,000/year income. (He is now vaguely saying “over $100,000.” Yes, $150,000 is over $100,000… 50% over to be exact.) Home equity of approximately $1,000,000 as reported on the CSS/Profile would add as much as $60,000 to the FAFSA EFC, meaning at USC his expected contribution would be as much as $110,000. Despite that, based on his special circumstances, USC granted him $6,000/year - an OVERAWARD based on his financial circumstances. (The $3,000 he states is for 1/2 year as he is a Spring admit.) They also said they would re-evaluate his need when his father was no longer able to work. (His father was still working and earning full salary as he was negotiating financial aid.) No other university (he was accepted to several) gave binks09 any need-based aid - ONLY USC. I was one of the posters who responded to binks09 starting back in March, so I am familiar with his many conflicting posts regarding financial aid.</p>
<p>Middle Class?
The designation “middle class” very much depends on perspective, so is not a useful term. Our family falls into the income category several people on this thread have said gets “screwed” by financial aid - over $50,000, but (well) under $100,000. With careful planning over the several years prior to our oldest starting college and fully educating ourselves on how financial aid works so we knew what to expect, our daughter had several excellent options at prices we fully expected. Though binks09 calls my family “dirt poor,” at USC we are contributing in the 5 figures each year - something we knew would be expected from us and for which we planned.</p>
<p>Fair?
I am not saying financial aid is “fair,” or that it isn’t a disappointment for these kids when they can’t attend a “dream school” because of money. I am saying that binks09 has not been “screwed” by USC, that parents need to educate themselves on costs and financial aid BEFORE a child settles on a dream school, and then fully communicate the financial constraints to the child well in advance of May 1st.</p>
<p>Frustrated
I am frustrated with some parents who have come on this thread with vague statements about their child’s unknown friends who cannot return to USC because of a “financial aid crisis.” You have no idea the real circumstances - from the FAFSA and CSS/Profile, for example - and yet are accusing USC of underhanded acts. It seems nearly all the posters on this thread have had their financial aid concerns either explained or adjusted. Isn’t it plausible that those unknown friends had similar circumstances? If you truly believe those students have been “screwed” by USC and have had their aid reduced arbitrarily and unfairly, please immediately have your child get in touch them and pass on the contact information in the letter in post #140 so they can resolve the problem. USC is anxious to do so.</p>