<p>Hey everyone! I was wondering if the University of Alabama meets the demonstrated financial need of Honors College students. I would be eligible for the out-of-state presidential scholarship (which covers tuition), but I’m not sure how I would pay for everything else. Thanks for your help!</p>
<p>The University of Alabama does not guarantee to meet the demonstrated need, as demonstrated by FAFSA, of any student. It does award all types of Federal aid (loans, grants, and work study) and will try to meet your need. Depending on your family’s demonstrated need, UA may have a very competitive financial aid package.</p>
<p>It is VERY IMPORTANT to talk with your parents, see what they are willing to pay, and run a FAFSA calculator to find out your EFC. The EFC is not the amount you are going to pay for college, rather it is a number used to determine eligibility for certain types of Federal aid, but it does give your family a number to work from; many families find that their EFC is higher than they expected.</p>
<p>You can get a Stafford loan and if your parents are willing they could take out a PLUS loan to cover the rest of your costs. </p>
<p>Tuition is your biggest expense by far and that will be covered. And just because you’re honors doesn’t mean you have to live in a honors dorm. Traditional dorms are around 2200 a semester compared to the 4,000 a semester of the honors dorms. </p>
<p>So if you lived in a traditional dorm you’d need about $10,000 to cover the remaining costs. You should be able to save $2,000 easy in the summer by working. So now you’re down to 8K. Seems very doable to me.</p>
<p>Forrest…</p>
<p>Like nearly all publics, Bama does not guarantee to meet the need of OOS students. Only UVA and UNC-CH make this promise…and they do use loans and at least one uses CSS Profile to determine need.</p>
<p>What do you think your EFC will be? If you’re low income, then you could qualify for a Pell Grant.</p>
<p>All students can get a Stafford loan - which for freshman is $5500.</p>
<p>You might also get some work-study IF you file your FAFSA early…not too long after Jan 1st. Work-study can be “first come, first serve.”</p>
<p>There are other federal dollars that are also first come, first serve. And, Perkins loans can also be first come, first serve. Perkins loans would be in addition to Stafford loans.</p>
<p>How much will your parents contribute?</p>
<p>How much can you contribute from the earnings of a summer job?</p>
<p>What is your major?</p>
<p>What are your stats?</p>
<p>Tell us more info and maybe we can figure this out for you. :)</p>
<p>I don’t want my parents to pay for anything, and don’t know about the summer job.
I plan to major in physics, or possibly aerospace engineering.
I got a 34 on the ACT (34 english, 36 mathematics, 33 reading and 34 science), but plan to take it again. I have a 3.60 GPA unweighted (4.05 weighted), and am not highly ranked in my class. I have leadership positions in Marine Corps JROTC and Civil Air Patrol.</p>
<p>Forrest–I believe engineering majors get an extra $2,500 stipend…if I’m not mistaken. </p>
<p>Congrats on those great ACT scores!</p>
<p>Have you taken the PSAT?</p>
<p>Just thought of something else–won’t ROTC pay part of your college costs, if you make a commitment to enter the service afterward?</p>
<p>Are you a likely NMSF/F? What was your PSAT?</p>
<p>*I don’t want my parents to pay for anything, and don’t know about the summer job.
*</p>
<p>If they’re low income, you may qualify for a Pell Grant. Are they low income?</p>
<p>I suggest majoring in some kind of engineering because you’d get an extra 2500 per year.</p>
<p>* I was wondering if the University of Alabama meets the demonstrated financial need of Honors College students. I would be eligible for the out-of-state presidential scholarship (which covers tuition), *</p>
<p>Keep in mind that if you want need-based aid from ANY school, you’d need to qualify for it. You can’t just say that you don’t want your parents to pay anything…if you have an EFC, then need-based aid isn’t going to cover it.</p>
<p>What would your FAFSA EFC be? If you don’t know, it’s roughly about 22-25% of your family’s income (before taxes). It will be more if your family has a good amount of assets.</p>
<p>For example, If </p>
<p>COA is $36k
EFC is $6k
Then need is $30k</p>
<p>If you major in engineering…You’re getting…</p>
<p>$21,000 in presidential scholarship
$2500 COE scholarship
$5500 student loan</p>
<h2>$1000 in Work Study</h2>
<p>$30,000 in aid…your “need” would be met.</p>
<p>If your EFC is - say $10k per year - then you’d have a “need” of about $25k. Well, the scholarship is about $21k, and engineering is 2500…so that’s 23,500 right there.</p>
<p>I scored 213 on the PSAT, and will probably qualify as a National Merit Semifinalist. However, I doubt that I will make Finalist due to my GPA.
LadyDianeski: I am considering AFROTC, but I’m not sure whether I want to join the military after college.</p>
<p>My question is really whether I could go to Alabama without taking out a loan. If I can’t, I will probably just go somewhere else where there are no loans as part of the financial aid package, such as the University of Chicago.</p>
<p>Forrest–please don’t assume you won’t make NMF!!! 15/16ths of all Semifinalists make it to Finalist. You pretty much have to get into serious trouble (like, breaking the law or flunking out) in order to NOT make Finalist. So I’ve been told, anyway.</p>
<p>We are home-schoolers, so our GPA wasn’t “official” or anything…yet DS still made finalist.</p>
<p>Don’t lose hope! :)</p>
<p>Those schools where loans aren’t part of the financial aid package aren’t easy to get into regardless of how high your test scores are.</p>
<p>And even then I don’t think it’s a free ride for everyone. Your family would still be expected to come up with their EFC if they have one.</p>
<p>*I scored 213 on the PSAT, and will probably qualify as a National Merit Semifinalist. However, I doubt that I will make Finalist due to my GPA.
*</p>
<p>What state are you in?</p>
<p>Your GPA is fine for NMF.</p>
<p>If you make NMF, you get a much bigger scholarship. if you’re an eng’g major, it’s nearly a free ride.</p>
<p>My question is really whether I could go to Alabama without taking out a loan. If I can’t, I will probably just go somewhere else where there are no loans as part of the financial aid package, such as the University of Chicago.</p>
<p>???</p>
<p>Chicago isn’t going to give you a free ride UNLESS you have a 0 EFC. Do you? If so, then Bama will give you $5550 more per year.</p>
<p>Also…I don’t think Chicago is a “no loan” school anyway.</p>
<p>Financial Aid Statistics
Full-time freshman enrollment: 1,387
Number who applied for need-based aid: 868
Number who were judged to have need: 645
Number who were offered aid: 645
Number who had full need met: 645
Average percent of need met: 100%
Average financial aid package: $38,991
**Average need-based loan: $4,483<a href=“for%20frosh…upperclassmen%20get%20larger%20loans”>/B</a>
Average need-based scholarship or grant award: $35,540
Average non-need based aid: $7,772
Average indebtedness at graduation: $22,359</p>
<p>Chicago is not a no-loan school.</p>
<p>What is your EFC?</p>