Financial Need?

<p>Just out of curiousity, does USC meet all of your demonstrated financial need? Say someone's EFC from FAFSA is $10k. Since tuition is around $32k, does USC pay for the other $22k, or are you on your own?</p>

<p>USC Financial Aid office is great at putting a package together. Don't forget, besides tuition there is also room/board, books, misc, etc etc etc. The following is from collegeboard.com:</p>

<p>Annual College Costs ( Fall 2005 )
Tuition: $32,008 </p>

<p>Room and board: $9,610
Books and supplies: $650<br>
Estimated personal expenses: $1,634
Transportation expense: $580 </p>

<p>Cost per credit hour: $1,059 </p>

<p>Financial Aid Statistics
Full-time freshman enrollment: 2,769
Number who applied for need-based aid: 1,805
Number who were judged to have need: 1,210
Number who were offered aid: 1,210
Number who had full need met: 1,147
Average percent of need met: 99%
Average financial aid package: $28,371
Average need-based loan: $3,767
Average need-based scholarship or grant award: $18,919
Average non-need based aid: $12,134
Average indebtedness at graduation: $19,131</p>

<p>Colleges meet needs in different ways. Many schools (I've told USC is one of them) offer more grant & scholarship need aid to students that they really want because of good stats, URM, athlete, etc. I've also read that some schools offer great packages for incoming freshmen & then make more & more of the award loans each subsequent year the student attends. Also, like many schools, there can be "strings" attached to aid (especially merit aid), such as keeping the same major, maintaining minimum GPA, etc. You may wish to inquire about these & other concerns with the financial aid office when comparing aid offers, once the offers have been received--the 4-year picture is important.</p>

<p>I know the thread is old, but...
Are these average financial aid package statistics (ex above: "Average financial aid package: $28,371") the amounts given to students over their 4 years in college or over one freshman year? If it's the laatter, do you re-apply for aid each following year or do you have a plan that only changes if you transfer???</p>

<p>All students re-apply every year.</p>

<p>Just so you can get an idea of a possible fin aid package, here's mine. It hasn't changed that much from last year. </p>

<p>2006-2007
Estimated Cost of Attendance 46966
Work Study: 2750<br>
Fed. Perkins Loan: 500
Sub. Fed Stafford Loan: 3500
Grant: 32000
Fin Aid Eligibity: 38750 </p>

<p>EFC: 7378 </p>

<p>Freshman Year: 2005-2006
The estimated cost of attendance is $ 44, 722
$2,500 Work study
$1,380 Perkins
$2,625 Subsidized Stafford
$28,518 Grant</p>

<p>Fafsa efc: $7140</p>

<p>my bottom line after all my aid was about $1200. not counting loans as aid, it was $5280. I loved my package.</p>

<p>and this is wihout merit aid</p>

<p>The loan/grant mix may change -- increasing the amount of loan (& decreasing grant) the longer you remain at the school. This is not uncommon with many colleges.</p>

<p>It also depends on your family's circumstances. Most working people are accustomed to getting a raise every 1 to 2 years, and that raise can impact your EFC. If you are out of work for a bit and make less, you'll get more aid the following year. The availability of things like Perkins loans varies widely, so that can change your package from the other end. Also, once you've been in school for a year or two, you become eligible for more scholarships within your major, and this will change the mix.</p>

<p>cool thanks. that clears up a lot!</p>