<p>I calculated my EFC and it is around $13,000. Based on this info alone, can anyone tell me how much grants or financial aid i will receive? A ruff estimate will do. </p>
<p>Colleges
UPENN
NYU
UVA
UC Berkeley</p>
<p>How did you calculate your EFC, FAFSA or the Profile? I’m not sure about the state schools, but Penn and NYU likely use the Profile, and schools that use it each have their own formula, so your EFC may vary from school to school. </p>
<p>While Penn meets full need, NYU is known to give relatively poor FA and gaps.</p>
<p>For the state schools, it will depend on whether you are an in-state or OOS student. UCB is not generous with OOS students, UVA is better.</p>
<p>You need to look at each school’s website, for instance Penn says:</p>
<p>[Penn</a> Admissions: Paying for a Penn Education](<a href=“http://www.admissionsug.upenn.edu/paying/]Penn”>http://www.admissionsug.upenn.edu/paying/)</p>
<p>"As part of that commitment, students from families with annual incomes of less than $100,000 who qualified for need-based aid will not have loans included as part of their financial aid package beginning in Fall 2008. In Fall 2009 this policy will extend to all families who qualify for need-based aid. "</p>
<p>NYU does not use CSS Profile. They are know for bad aid, but they do have scholarship money because my son has a 4 year, 30K per year scholarship from NYU.</p>
<p>Berkeley offers Pell & Cal grants, you will not qualify for a Pell which requires an EFC below $5000 and also no SCG/SMART grants
A Cal grant would only be if you are a CA resident and qualify financially.</p>
<p>SO, maybe a regents, maybe a chancellors, maybe an alumni scholarship, other than that loans</p>
<p>bymp10char</p>
<p>aztennisplaya1…are you instate for any of the public universities on your list? If so, that would be a plus for you. If not, they come with a high price tag for OOS students, and limited aid (UVA does give aid to OOS students but it is for the cream of the crop). I believe the only school on your list that guarantees to meet full need is UPenn which does uses the Profile. UVA might also…they use a UVA financial aid application and my understanding is that the questions on it are very similar to the Profile.</p>
<p>How did you calculate your EFC? Did you use the institutional methodology? If not, that is what you should do.</p>
<p>no i used the other one but i did the same for IM and i got around 12000. and im OOS for all the schools</p>
<p>EFC is too high for any federal grant money. Probably no State grant money if you are out of State everywhere, plus your income is probably too high. So for grants you would have to check if the schools award their own grant money. </p>
<p>Make sure you include a financial safety (i.e. one you can afford) in your list.</p>
<p>UPENN
NYU
UVA
UC Berkeley</p>
<p>OK…here’s my opinion.</p>
<p>UPenn guarantees to meet full need. They also require the Profile in addition to the FAFSA, and I believe there is a UPenn finaid form to complete as well. UPenn will determine your need from there. If you get accepted (that’s the first hurdle), your financial aid will be decent enough…but there’s really no way to know exactly what it will be because UPenn will use the info to determine your need, and therefore your aid.</p>
<p>NYU uses only the Profile. They are reportedly fairly stingy with need based aid. I would say they are “spotty”. They do not guarantee to meet full need and many students find a huge gap between the aid+EFC and the cost of attendance. If you get a scholarship based on merit…you would be in better shape there, in my opinion.</p>
<p>UVA does offer aid to OOS students. They use the Profile and a UVA financial aid application form (which has some similar question to the Profile). I do not believe UVA guarantees to meet full need either. </p>
<p>UC Berkeley…to be honest, I would not expect much aid as an OOS student at any of the UCs. They are having enough trouble financing the education costs for instate students. The cost of attendance is very high for OOS students. The news is all asplash with the financial and economic woes of the Cal college systems, both the UCs and Cal states. I’m sure they would love to have you as a full pay OOS student…but I’m not so sure they are going to be subsidizing the educations of OOS students at the expense of their instate taxpayers.</p>
<p>Now…having said all that…if you have competitive stats for these four schools, are you also looking at some less competitive schools where you might be a candidate for merit aid??</p>
<p>no these are the only schools that i would be applying to and one safety school which is instate but i DO NOT want to go there. if it comes down to just financial aid i guess i would just have to take out like 20k loans per year which really sucks…</p>
<br>
<br>
<p>It’s not a safety school if you would NOT attend. A safety school is a school to which you are highly likely to gain admittance AND a school that you would like to attend. Otherwise…it’s just “another school…that is easier to get into”.</p>
<p>Have you discussed your college finances with your parents? This is something VERY important for you to do. YOU will not be able to take out a $20,000 loan each year in your own name. You don’t have the collateral to do so. A bank will not lend you that much money because if you default…they have NOTHING to attach to lessen their losses. In addition, $80,000 for undergraduate debt is TOO MUCH…way too much (and I don’t care what profession you think you might be entering…there are no guarantees there either). </p>
<p>You really must discuss college finances with your family. How much are they willing and able to contribute annually to your schooling? Do you currently have a job…or two? How much can YOU contribute annually to your schooling?</p>
<p>And if it were me…I’d be finding a safety that is affordable, where I would gain admittance AND where I would be happy to matriculate…if that becomes the choice.</p>
<p>Are you currently a senior??</p>
<p>well im a junior but i have talked to my parents about the financial matters of college. They said that they would support me going to the college that i would love to go to. I cant think of another school that i would like to go to to major in finance in state. In state schools are probably the only ones that my parents can fully pay for since i already know that ill get in full ride or close to it. My safety school is University of South Carolina Moore school of business. Even though they are ranked number 1 in international business, the school doesnt have the reputation that would help me get to where i want to be later on in life. </p>
<p>Also, i forgot to mention that University of Michigan is another school that im going to apply. But seeing as how that is an OOS school, i would be still expected to pay close to any of those other colleges. I really do not know what to do -.-</p>
<br>
<br>
<p>USC was my daughter’s second choice. If you really have the competitive stats for the Ivies and the other very competitive schools on your list, you should be applying for a Carolina Scholarship at U of South Carolina. This is for instate students who have above 1300 on the combined CR/Math SAT and who are outstanding students. You must complete the honors college application, but it is well worth it to do so. I know that McNair finalists (that is for OOS) receive a lap top computer as well. I don’t know if the Carolina Scholars do or not. </p>
<p>U of South Carolina allow you to “stack” these merit scholarships up to the cost of attendance. SO…if you are a National Merit Scholarship Finalist, you are also eligible for the Leiber scholarship. The Moore school also gives scholarshps.</p>
<p>These are merit awards very independent of your financial need. If you got your undergrad degree at U of SC, you could then spend the “big buck” on a grad degree at Wharton or NYU or one of the other very excellent business schools. </p>
<p>We LOVED USC…our whole family. And we’re northerners who have grown up around the Ivies and other excellent schools. We all felt that U of South Carolina is a rising star amongst state universities and would have been very proud had our daughter (who got an excellent scholarship from them, by the way) had chosen to attend there.</p>
<p>P.S. What about College of Charleston??</p>
<p>i feel like going to USC is a waste of my intelligence and i really dont want to stay in the southern region after college either. If i go to USC then i would most likely stay down here after college which is something i do not want to do. Same with college of charleston and also charleston is a notorious party school and is also a waste of intelligence(not to offend anyone). I have sacrificed too much in high school to get the good grades, to be focused, and to lose a social life. I dont want all this to go to waste going to a college like USC which wouldnt challege me enough, even if im in the honors college(i know this because my brother goes there).</p>
<p>Good luck to you as you formulate your college list. I hope that you have the stats (test scores, and GPA) to make you competitive for these schools.</p>
<p>thanks i think i do but like i said the financial matters are killing me…</p>