Financial Aid for UC's

So my family’s income is about 110k. This may seem like a lot but we live in San Francisco, the single most expensive city on earth. A six figure household income like 110k is about average for living in this city. My FAFSA EFC is like 50k, which is a very unrealistic amount for my family to pay. Will UC’s be more understanding and offer me some aid or will they not care?

What does the UC Net Price Calculator say that you will need to pay?

Run the Net price calculators but if your EFC is $50K, then it is way above the UC costs of around $30K/year for an in-state applicant. You should not expect any financial aid unless you are able to get Regents (merit aid) at the UC’s but you are entitled to take the Federal student loans up to $27K for the 4 years.

Your EFC is the minimum you and your family will be expected to pay so consider yourself full pay at the UC’s which is lower than your EFC.

If your EFC is $50,000, either your family income is higher…or you have significant assets. A $50,000 EFC would usually mean an income between $150,000 and $200,000 a year.

Your EFC is higher than instate UC, so you won’t get need-based aid

Your parents must also have assets.

How much will they pay each year?

Short answer, no.

An income of income of 110k should not result in a 50k EFC. Check that you didn’t make a mistake.
Next, run the NPC on the UCs, what does it indicate?

@MYOS1634

EFC is not just based on income. And we don’t know if this includes retirement contributions. These people may have unprotected assets, a second home, rental property, etc. and we’ve also seen kids put down the income after taxes as income.

An income of $110,000 wouldn’t yield a $50,000 EFC…but if the family has significant assets, those could drive up,the EFC significantly.

On another thread…a family has $400,000 in bank accounts. That adds $20,000 to the EFC for that family.

Also, $110,000 income…does that include contributions to pretax retirement accounts? If both parents are contributing $20,000 a year…answer did so in 2016…that would add $40,000 back in as income…thus giving $140,000 as income. With more modest assets…this easily could ramp up to a $50,000 a year EFC.

Yes, I know of your pain.

So, you still need to apply to the CalGrant office. Those apps are due before March 2nd. The State needs to know of your child if you end up needing funds or qualifying for funds, from the state.

http://www.csac.ca.gov/doc.asp?id=905
Most California high schools will release your child’s GPA to the Calgrant office, with your permission. Or, you will need to do the legwork yourself, but it just requires your transcript request in a sealed envelope. Your child’s HS registrar can help with that.

The high school should send out a form asking for permission to report your GPA to the California State Aid Commission to determine Cal Grant eligibility. You can find more information here: http://www.csac.ca.gov/doc.asp?id=106
The income ceiling on the Cal Grant A/C is around $100,000 and around $40,000-$60,000 for Cal Grant B. I’m not sure if you’ll qualify.