Financial Aid?

Paying for College
1

<p>Just received financial aid package for DePaul for my daughter. </p>

<p>Here's their offer for 2010-2011.</p>

<p>Federal Direct Subsidized Loan = $3500
Federal Direct Unsubsidized Loan = $2000
DePaul Scholarship = $10,500
DePaul Grant = $2800
Federal Parent PLUS Loan = $11,300</p>

<p>Totaling $30,100 but the estimated cost of attendance is $43,607....leaving a gap of $13,507.</p>

<p>Does this mean my efc is $11,300 PLUS the $13,507 gap?? Or am I reading this incorrectly.</p>

<p>Please help :-(</p>

2

<p>Do you know your FAFSA EFC? It probably either means your EFC is $13,507 and the PLUS loan is part of meeting your need. Or just that you have a big gap. That is a lot in loans especially of you will have any difficulty covering your EFC without loans.</p>

3

<p>My FAFSA EFC is $4885.</p>

4

<p>*
Federal Direct Subsidized Loan = $3500
Federal Direct Unsubsidized Loan = $2000
DePaul Scholarship = $10,500
DePaul Grant = $2800
Federal Parent PLUS Loan = $11,300</p>

<p>Totaling $30,100 but the estimated cost of attendance is $43,607…leaving a gap of $13,507.</p>

<p>Does this mean my efc is $11,300 PLUS the $13,507 gap?? Or am I reading this incorrectly.*</p>

<p>Is DePaul a FAFSA only school? What did your SAR say your EFC is?</p>

<p>Yes, it looks like the school is giving your D $13,300 in free aid, but the rest is </p>

<p>$5500 in loans for your child (which will likely go up each year $6500, 7500, 7500)
$11,300 loans for the parents,
and a $13,507 gap (that will either be paid “out of pocket” or with additional loans…however, maybe some of this can be reduced if COA includes items where economizing can help…transportation, personal expenses, etc)</p>

<p>I wonder how come your D didn’t get any work-study? Can you ask??</p>

<p>What is your SAR EFC?</p>

5

<p>Oh, I cross-posted…</p>

<p>Your SAR EFC is $4885. Is this a FAFSA only school or do they also use CSS Profile?</p>

<p>Obviously, this school does not meet need. </p>

<p>There is no way that a family with a $4885 EFC can afford these loans. It appears that they expect the parents to borrow (or pay) about $24k per year. This is a bad package for your D.</p>

<p>What is the COA breakdown for the 2010-11 school year?</p>

<p>Where else did your D apply? May I ask what her stats were?</p>

<p>Where else did she apply.</p>

6

<p>Yes that is a pretty awful package for someone with a 4885 EFC. You will have to take out more loans than are reasonable. I hope your daughter has some other more affordable options. Good luck.</p>

7

<p>I’m not sure about a CSS profile…my apologizes I am new to all of this. Can you explain?</p>

<p>COA breakdown for the year is:</p>

<p>Books & Supplies: $1134
Board: $2940
Mandatory Fees: $618
Orientation Fees: $170
Personal/Misc: $1749
Room: $8013
Transportation: $744
Tuition: $28239</p>

<p>SAT score was 1650 and her gpa is 3.5. She also applied to St. John’s University (NY), Fordham, Univ. of Chicago, and Univ of Ga. We have not heard back from those school yet.</p>

8

<p>You’ve been given an “admit/deny” package.</p>

9

<p>Some schools, especially those that give generous aid, require CSSprofile in addition to FAFSA. From a quick glance at the DePaul website they do not. I am pretty sure the University of Chicago and Fordham do though. Have you not completed CSSprofile for those schools?</p>

<p>They are quite competitive schools. Did your daughter apply to any safety schools, both for financial and admissions purposes?</p>

10

<p>I think the concept of “admit/deny” is going out the window in this economy. My guess is simply that colleges have less money to throw around and more colleges will “gap” the federal EFC. I think one would have to look at the website and ascertain what $$ are actually available to students to determine if the package was the best it could be…it’s quite possible that the $12,000 + in discount is about the best they can do given this students application facts. A quick glance at the website shows that the “biggest” scholarship is $15,000. There are also a number of scholarships that students apply for and it’s unknown if the OP’s daughter applied for any of those scholarships.</p>

11

<p>*COA breakdown for the year is:</p>

<p>Books & Supplies: $1134
Board: $2940
Mandatory Fees: $618
Orientation Fees: $170
Personal/Misc: $1749
Room: $8013
Transportation: $744
Tuition: $28239</p>

<p>SAT score was 1650 and her gpa is 3.5. She also applied to St. John’s University (NY), Fordham, Univ. of Chicago, and Univ of Ga. We have not heard back from those school yet.*</p>

<p>Are you in-state for UGa? I hope so, because that will likely be your most affordable option.</p>

<p>While Momofthree makes a good point, this package is an admit/deny because your D’s stats are not strong for the school. DePaul does employ Enrollment Managers, and they do give less good aid to students whose stats don’t “help” their school look good. If your D had - say a 2100 SAT - her aid package would have had fewer loans.</p>

<p>it’s quite possible that the $12,000 + in discount is about the best they can do given this students application facts. A quick glance at the website shows that the “biggest” scholarship is $15,000. There are also a number of scholarships that students apply for and it’s unknown if the OP’s daughter applied for any of those scholarships.</p>

<p>She may have applied for other scholarships, but her stats aren’t high enough. My H’s niece goes there. They give better grants to higher stats kids. </p>

<p>DePaul Middle 50% of First-Year Students</p>

<p>SAT Critical Reading: 520 - 640
SAT Math: … 520 - 620<br>
SAT Writing:… 520 - 630</p>

<p>With a 1650 SAT, she is in the lower/middle of the mid 50s of students. That’s not the best place to be for the better aid packages.</p>

<p>Swimcat is right…Both UChicago and Fordham require Collegeboard’s CSS Profile. Did you not submit them? CSS Profile is like another type of FAFSA…but it’s used to determine institutional aid, not federal aid.</p>

<p>What is your home state?</p>

12

<p>Yes, we are in state for UGA and Ga Southern University. </p>

<p>I will check into the CSS Profile that was mentioned. Thanks for all of the responses. This whole process has been so overwhelming.</p>

13

<p>^^^</p>

<p>Oh good!!! The in-state choices may be the most affordable. Your D will get the HOPE scholarship for the Georgia public schools, right?</p>

<p>What school is her financial safety?</p>

14

<p>Yes, she is eligible for the Hope scholarship. Her financial safety school is Ga. Southern. She does not want to attend school in GA but I want her to make the best financial choice for the long run.</p>

15

<p>^^
She may not want to attend school in-state, but it is likely her best option. There is no way you should take on that debt. It will be overwhelming.</p>

<p>If it makes her or you feel any better, an awful lot of students are attending in-state public universities for financial reasons. She won’t be alone.</p>

16

<p>Yes, she is eligible for the Hope scholarship. Her financial safety school is Ga. Southern. She does not want to attend school in GA but I want her to make the best financial choice for the long run.</p>

<p>I agree with the above post. Your D may not want to attend an instate school, but that may be the only affordable choice. Please forgive me if this sounds harsh, but it doesn’t look like the school’s GC advised your D very well. If she wanted to go out of state, and needed aid, then she shouldn’t have applied to schools where her stats are considered low. Her stats are well below the 25 percentile for UChicago. Her chances for acceptance are very low. Her stats are in the bottom quartile for Fordham, too. Her GC should have suggested out of state schools that would appreciate her stats and give her a better FA package. </p>

<p>If your D really wants to go OOS and she likes Catholic schools, there are some schools that are still accepting apps that might be more affordable. :)</p>

<p>UChicago mid 50s</p>

<p>SAT Critical Reading: 690 - 780
SAT Math: … 680 - 780
SAT Writing: … 670 - 760<br>
ACT Composite: 28 - 32</p>

17

<p>Here are some schools that are still accepting apps…

[ul]
Albion College Albion MI
Arcadia University Glenside PA
Augsburg College Minneapolis MN
Augustana College (IL) Rock Island
Augustana College (SD) Sioux Falls SD
Baldwin-Wallace College Berea OH
Belmont University Nashville TN
Berry College Mount Berry GA
Burlington College Burlington VT
Cabrini College Radnor PA
Canisius College Buffalo NY
Carroll College (Montana) Helena MT
Cazenovia College Cazenovia NY
Cedar Crest College Allentown PA
Chatham University Pittsburgh PA
Colby-Sawyer College New London NH
College of Mount Saint Vincent Riverdale
College of St. Benedict/St. John’s University Collegeville MN
Colorado State University Fort Collins CO
Columbia College Chicago Chicago IL
Converse College Spartanburg SC
Creighton University Omaha NE
Curry College Milton MA
Daemen College Amherst NY
Dominican University of California San Rafael CA
Dowling College Oakdale NY
Eckerd College St Petersburg FL
Elmira College Elmira NY
Franklin Pierce University Rindge NH
George Fox University Newberg OR
Green Mountain College Poultney VT
Gustavus Adolphus College St. Peter MN
Hendrix College Conway AR
Hiram College Hiram OH
Hofstra University Hempstead NY
Hood College Frederick MD
Hope College Holland MI
Illinois College Jacksonville IL
Illinois Institute of Technology Chicago IL
Immaculata University Immaculata PA
Keene State College Keene NH
Keystone College La Plume PA
La Salle University Philadelphia PA
Lake Erie College Painesville OH
Lasell College Newton MA
Lawrence Technological University Southfield MI
Lees-McRae College Banner Elk, NC
Long Island University-C.W. Post Campus Brookville NY
Loyola University New Orleans New Orleans LA
Luther College Decorah IA
Lycoming College Williamsport PA
Manhattan College Riverdale NY
Manhattanville College Purchase NY
Marietta College Marietta OH
Marlboro College Marlboro VT
Marymount Manhattan College New York NY
Maryville College Maryville TN
Maryville University of St. Louis St. Louis MO
Menlo College Atherton CA
Mercyhurst College Erie PA
Millsaps College Jackson MS
New College of Florida Sarasota FL
New England College Henniker NH
Newbury College Brookline MA
Niagara University Niagara University NY
Nichols College Dudley MA
Northland College Ashland WI
Oglethorpe University Atlanta GA
Ohio Northern University Ada OH
Oklahoma City University Oklahoma City OK
Pacific Lutheran University Tacoma WA
Pacific University Forest Grove OR
Philadelphia University Philadelphia PA
Plymouth State University Plymouth NH
Polytechnic Institute of New York University Brooklyn NY
Prescott College Prescott AZ
Randolph College Lynchburg VA
Regis College (Massachusetts) Weston MA
Regis University (Colorado) Denver CO
Richard Stockton Pomona NJ
Ringling College of Art and Design Sarasota FL
Rosemont College Rosemont PA
Russell Sage College Troy NY Link
Sacred Heart University Fairfield CT
Sage College of Albany Albany NY
Saint Francis University Loretto PA
Saint Joseph’s College of Maine Standish ME
Saint Mary’s University of Minnesota Winona MN
Saint Peter’s College Jersey City NJ
Saint Vincent College Latrobe PA
Salem College (North Carolina) Winston-Salem NC Link
Seton Hall University South Orange NJ
Seton Hill University Greensburg PA
St. Bonaventure University St. Bonaventure NY
St. Catherine University Saint Paul MN
St. Edward’s University Austin TX
St. John Fisher College Rochester NY
St. Norbert College DePere WI
St. Thomas Aquinas College Sparkill NY
State University of New York, College at Oneonta Oneonta NY
SUNY Buffalo State College Buffalo NY
SUNY Cortland Cortland NY
SUNY Fredonia Fredonia NY
SUNY New Paltz New Paltz NY
SUNY Plattsburgh Plattsburgh NY
The College at Brockport Brockport NY
The College of Idaho Caldwell ID
The College of New Rochelle New Rochelle NY
Thiel College Greenville PA
Thomas College Waterville ME
University of Alabama Tuscaloosa AL
University of Chicago Chicago IL
University of Dallas Irving TX
University of Findlay Findlay OH
University of Maine at Farmington Farmington ME
University of Maine at Machias Machias ME
University of Massachusetts Boston Boston MA
University of Massachusetts Dartmouth North Dartmouth MA
University of Massachusetts Lowell Lowell MA
University of New Haven West Haven CT
University of Redlands Redlands CA
University of Tampa Tampa FL
University of the Pacific Stockton CA
Utica College Utica NY
Valparaiso University Valparaiso IN
Virginia Wesleyan College Norfolk VA
Webster University St. Louis MO
Wentworth Institute of Technology Boston MA
Westminster College (Missouri) Fulton MO
Westminster College (Pennsylvania) New Wilmington PA
Westminster College (Utah) Salt Lake City UT
William Jewell College Liberty MO
Wilson College Chambersburg PA [/ul] </p>

<p>And, there might be some more schools here…
[Late</a> & Rolling Deadline Schools](<a href=“http://www.petersons.com/ugchannel/code/LateDeadlineSchools.asp]Late”>Late Deadline Schools: Finding one and getting in with a great college essay)</p>

<p>I would have an honest talk with my D tonight and tell her that if she really wants to go OOS, then she may need to quickly apply to a private that will welcome her stats with a better FA package. She needs to consider a school or two where her stats are considered high (upper quartile) for their freshmen class. </p>

<p>she can plug in a college’s name on collegeboard, then when it goes to the page about that college, click on SAT,AP,CLEP, then scroll down and look at the mid 50s range for SAT. If hers are above that, that school will want her and likely will give her a better package. :)</p>

18

<p>I am printing this list right now. Thank you SO much for all of your help with this!!!</p>

19

<p>Tennessee Board of Regents schools are relatively cheap, participate in the Academic Common Market with Georgia, and have rolling admissions for a few more months.</p>

20

<p>something is off here. Depaul’s average need based scholarship is $16,124.</p>

<p>[College</a> Search - DePaul University - DePaul - Cost & Financial Aid](<a href=“College Search - BigFuture | College Board”>College Search - BigFuture | College Board)</p>

<p>and one would assume that the average student that receives a scholarship from Depaul has a higher EFC than your $4885 - implying that you should get a scholarship higher than the $16,124 average figure.</p>