<p>I received my financial aid award from USC today.....it was $14,506....about half in loans, half in grants. Unfortunately that leaves the total remaining cost of attendance per year at an extremely high $43,520....which is almost half of my family's ~90k/yr income. I am extremely confused about how USC determined my family's EFC to be so high when at other universities they determined that my parents could pay about $21-22,000 per year...at USC it will be almost twice that.</p>
<p>So i have dreamed of going to USC for years, but unfortunately, with this level of aid, requiring my family to pay 1/2 of their income per year on my tuition, it is far from financially feasible. </p>
<p>Do you think if I contact USC they will consider raising my aid award?? I just can't believe they determined my EFC to be sooo high...there is no way my family can afford what they expect. I am really disappointed, I don't want this to prevent me from attending USC.</p>
<p>Please read the threads on USC financial aid, especially those written by alamemom. You will better understand how they came up with that figure. USC uses the CSS/Profile which takes into account other assets (like home equity, savings). If your parents have a lot of equity built up into their home, USC will definitely consider that a part of your EFC. Check what you entered in the CSS/Profile on assets and home equity amount. Also, consider calling USC financial aid and ask how they determined your EFC.</p>
<p>nooo i am impatient and checked online on usconnect…does this mean the package is not actually complete yet?? is there hope for more??? ahhhhhhhhh</p>
<p>If you have not received an email or a fin aid letter in the mail, there’s a good chance your package may still be updated. Your EFC seems a little high for your income level. My parents combined income is upwards of 100k but my EFC was only around 27k (33k if you don’t count the loan).</p>
<p>darn, i received the official financial aid award today and it was the same as i mentioned above i am definitely calling usc because there is no way my family can pay over 43,000 a year and i don’t want this to prevent me from attending usc, which it will. do you think they will be likely to appeal?</p>
<p>kbpark: look at what you put down in the CSS/Profile for assets and home equity. That could make a big difference. It is high for the income level but financial aid is not solely based on income level. It takes into consideration home equity, savings (your and your parents), and other assets. Again read alamemom’s responses and you can estimate how USC calculated your EFC. My guess is your parents have a lot of equity built up in their home and maybe have a significant amount of savings (other than IRA).</p>
<p>Okay we are calling to appeal tomorrow. The reason our USC EFC was so high was because of savings and investments that were on the CSS but not the FAFSA, which is more income based. But I have a question…does there need to be some kind of mistake in the numbers we wrote down in order to appeal financial aid and receive more aid?? or if we make a strong enough case about really not being able to afford the USC EFC, will they still give more?? because i am dyinggg to go to USC and cannot if they do not provide more aid</p>
<p>If all of the information you submitted and upon which they calculated your aid was correct, then the calculation is likely to remain the same.</p>
<p>Some special circumstances they will consider are high out-of-pocket medical expenses you did not include on the FAFSA or CSS/Profile, job loss and unemployment, elder care, and in some cases private elementary and seconday school expenses for siblings.</p>
<p>Things that will not be considered are consumer debt of any kind: car loans, credit card debt, furniture/electronics loans, etc.</p>
<p>What is your option at $21,000/year? That sounds like a wonderful option and one you should seriously consider. </p>
i am definitely calling usc because there is no way my family can pay over 43,000 a year and i don’t want this to prevent me from attending usc, which it will. do you think they will be likely to appeal?</p>