<p>So, I am a UC Berkeley EECS hopeful. I am OOS and EFC is 0. If I get in, what should I expect my fin aid to be? Would it be worth the money (considering the fact that EECS has one of the best CS programs in the world and result in huge pays after graduation)? </p>
<p>If your EFC is zero and you are OOS, Cal is unlikely to be affordable. There is no institutional aid available to help cover the $23,000 per year OOS fee. You are also not eligible for CalGrant, the Blue and Gold Opportunity Plan, or the Middle Class Access Plan, since you are OOS.</p>
<p>Have you used the net price calculator? </p>
<p>Well, it says about 25000 in grant money and about 9000 in student loans (which I am ok with) and rest of 20000 in parent loans. I mean considering if I get in I will in EECS, is that worth it? Pretty sure the starting salaries are about 90K/year for a starter and all those high paying internships.in Silicon Valley!!!</p>
<p>It is unlikely that your parents could qualify for PLUS loans of $20,000 per year if your family income is low enough for a 0 EFC. Even if they could qualify, do you really want to graduate with that much debt? </p>
<p>That $116,000 in debt would severely hamper your post graduation life. Yes, $90,000 per year is an excellent starting salary (if you get a job that pays that well), but by the time you pay taxes, insurance, high California rent, car expenses, food, utilities, etc, the burden of a $1,200+ student loan payment is WAY too much. And that would last for ten years. </p>
<p>@LVkris You are killing of hopes to go to EECS even if I do I get in. But, I guess you are speaking reality here. If my parents are going away from the States this June and say I decided to go to Berekley do you have any idea how the parent loans would work? Also, when do we start paying back these loans?</p>
<p>Sorry to be so blunt, but it is important for you to have realistic expectations. Berkeley is a reach for everyone - the acceptance rate is low, and it is even lower for the very competitive majors such as EECS. Did you also apply to match and safety schools? </p>
<p>Here is good information about PLUS loans:</p>
<p><a href=“http://studentaid.ed.gov/types/loans/plus”>http://studentaid.ed.gov/types/loans/plus</a></p>
<p>Obviously, EECS is hard to get into. I did apply to other schools. I mean my stats are bit low (below average) for EECS due to some personal circumstances (which I explained on the application, but surprisingly I did not get any supplmental form so I am prob. rejected) but I am an Intel semifinalist, siemens regional fiinalist, AIME qualifier - actually got in the high 130’s on the AMC 10 and about 110 on the AMC 12 etc… To be more specific, I got a 32 on the ACT (with a 34 on Math and 33 on Reading) and for 9th and 10th grades I got All A’s except for a B in foreign language. For my junior, most of my grades were B’s with only 3 A’s (because of illness, which I mentioned). I have also interned at a software company and won medals in chess and tennis competitions. As for SAT II’s I got a 800 on Math II and 760 on chem. </p>
<p>what do you think of my chances (considering I didn’t get the disability supplemental)? Even if I do get in, I am prob. gonna have financial issues but still.</p>
<p>Congratulations on all of your achievements! You are obviously well qualified. The problem is that there are tens of thousands of qualified applicants competing for a relatively small number of spaces. No one here can know who will be chosen. </p>
<p>I’m glad you have other (hopefully affordable) options. This waiting period is hard, but you’ll know in a few weeks. Good luck!</p>
<p>If I really want to Berkeley, and it would cost me approx. 30000 dollars in loans per year (9000 = student loans). How should my family go about paying the rest? Just want to keep my options open. We have lots of property in my home country but nothing in US. So, just wondering.</p>
<p>College expenses not met by need or merit based aid are paid from past income (savings), current income, and/or future income (loans). A zero EFC indicates that current income is low and assets are modest. That leaves loans. Unfortunately, a family with low income would be unlikely to qualify for $21,000 of PLUS loans per year.</p>
<p>You mentioned that your parents may move back to your home country. Would they have a higher income there that would allow them to meet your expenses? Of course if they were earning more money, you could lose your need based aid. </p>
<p>You also mentioned owning property. I’m confused about your 0 EFC, then, unless the property has little monetary value. </p>
<p>Ya. Whatever. I mean I need to get in first. EECS is really competitive. I will have an entire month to think about finances if I get in so better think about it later. Do you know if Berkeley releases financial aid details immediately if accepted or is it going to take another 2-3 weeks?</p>