<p>Hey guys, I'm in need of a detailed answer for my question and I felt I'd get the best response here.
So I was accepted to UC Berkeley and I was able to look at my financial package. My EFC is ZERO (my parents have been in debt for a while and their income is reported as NEGATIVE).</p>
<p>Fees $10,940.00
Health Insurance* $1,522.00
Books and Supplies $1,314.00
Living Expenses $17,270.00
Other Expenses $28.00
Total UC Berkeley Costs $31,074.00
My Gift Aid $21,700.00
My Net Cost $9,374.00
Parents Share $0.00
Students Loan And Work $7,778.00
Total Resources to Meet My Net Costs $7,778.00</p>
<p>Total Resources to Meet My UC Berkeley Costs
$29,478.00</p>
<p>I looked at rooming and I noticed a significant $3,000 decrease in costs if i go for a triple room. A friend of mine at Berkeley said that even without outside scholarships, that financial aid will be more than enough to pay and as a result, I can possibly get cash back(so long as I don't go on shopping sprees). Is this true?</p>
<p>Iknow it's pretty dumb asking this, but I want to verify if these figures are a REASONABLE estimate because I don't know where I'll get $2,000 to pay for the remainder of my net costs.</p>
<p>Charles</p>
<p>You may have an EFC of zero, but that may still require you to take out loans to pay for various expenses. That’s where the “Students Loan And Work” comes in. And also don’t forget…you’ll need to work. </p>
<p>You can cancel your health insurance, I believe.
Books and supplies do not actually cost over $1000, if you’re smart about it. I spent at most $400 on books/laboratory fees this year. Probably less. </p>
<p>As for getting cash back, that could factor in as your work study wages (these get paid directly to you; you spend it as you like). Otherwise, I’m not entirely sure if you can get cash back…</p>
<p>If you’re EFC is zero, you’re gonna have more than enough to cover costs, including loans of course (and even without student loans, although that just means you’ll be taking out a bit more loans). Mentioned above, books do not cost 1000 dollars unless you have some weird desire to solely buy new books. With the new health insurance bill you might just be able to ride on your parents’ insurance, but really as much as I dislike the tang center and its uselessness, i’d just keep the health insurance just in case. plus you get flu shots for cheap/free.</p>
<p>I’m in the same situation with an EFC of 0, and trust me, it all adds up to more than enough in the end.</p>
<p>In fact, after taking out all the loans, by being smart with the budget, I actually have a significant bit of extra money. I live off-campus though, where I save a total of $5000/yr off my costs while trading it for a $2500/yr decrease in financial aid.</p>
<p>They give you sufficient aid, and you can always pay off your loans later.</p>
<p>is it really 2500 decrease? i was always wondering what would be the difference but never really figured it out…</p>
<p>My EFC is zero, too, and you do get more or less enough, even if you get loans.</p>
<p>Just wondering: does anyone notice how we got relatively lower aid this year than last? I’d just have to take out more loans, but it’s still frustrating.</p>
<p>They will pay your tuition/feees & campus R&B with your aid then refund the difference. If you live off campus, they will pay tuition/fees only and refund the difference. You can save a great deal by living off campus. When my DD was there is was something like $12-15k for dorms and $8k for Greek or off campus housing budgets including food & utilities.</p>
<p>Yes you do save a lot of money by getting a triple. Unless I’m mistaken, you lose around 4400 in financial aid in going off campus, but as a freshman you should be living in the dorms anyway.</p>