<p>How does that work, do they give financial aide like other schools, or is it mostly loans? What if family income is like $24,000? How much of it will they pay?</p>
<p>use one of the online calculators, determine your family EFC, then figure UCs will give about 50% loans & 50% grants...based on what I have seen with some kids we know with $0 EFC</p>
<p>With a family income of $24K-- unless you've got lots of assets in the student's name -- expect a financial aid package that covers nearly the full cost of college (tuition, room, board, books, miscellaneous costs). But the package will include both grants and loans. If you apply to several UC's, they will be working with the same EFC ($0 or close to it), but the aid packages they offer will differ. Look for the package with the most grants or scholarships, and the fewest loans.</p>
<p>One other thought.</p>
<p>With the Federal methodology (The FAFSA, which the UC's use), there's a thing called the 'Simplified Needs Test'. If:</p>
<p>Parent's AGI is under 50K, and
Parents file using 1040EZ or 1040A (in other words, they don't itemize deductions using the long form), and
Student either doesn't file, or files using 1040EZ or 1040A</p>
<p>then you can qualify for the simplified needs test. That means that ALL the family's assets (yours and your parent's) are excluded from the financial aid formulas. So your eligibility for Pell Grants and subsidized Stafford loans (these are the good ones) are made regardless of how much you or your parents have in the bank.</p>
<p>So you could have a gazillion in the bank, but if your income is low, and you can use short form, you still have a good chance at getting aid.</p>
<p>I know one family who lives in a million + estate house whoes kid is recieving the Gates scholarship (Pell grant eligible) cuz of this loophole</p>
<p>This is a typical snafu.</p>
<p>what a crying shame !</p>
<p>thanks
i'll try that</p>
<p>Umm.. I don't know what to say, but I'm thinking and considering about getting a military scholarship. Yes, if I signed up for the scholarship, I have to join the military. The government pays all the tuition for the whole 4 years, books, living place (I think), & you receive like money every month.</p>
<p>ya, but how long are you indebted to the military for after college?</p>
<p>xcutioners-</p>
<p>I would suggest you go ahead, and take that military scholarship.
It's a great deal. Your military service for the scholarship will be an added bonus experience to your resume and life.</p>