<p>We are also stuck-in-the-middle Middle-Classers! Son is admitted to School of Cinema Arts for Animation/Digital Arts (yippee!), but when we received the FA award last week, our hearts sank (well, ok, it was only mine; son is sanguine about it all). </p>
<p>EFC at USC is $51,000! This is evidently because we’ve been extremely frugal for 20 years and have a lot of equity/almost no debt. It isn’t sensible to pay $51K a year + have son take unsubsidized Stafford loans, of course. And we’d be crazy to tap equity to the tune of <em>one gazillion</em> dollars, after paying our house down for two decades (especially given husband’s 12 year cancer diagnosis, requiring brutal surgeries every few years/into the future). </p>
<p>Son is lucky to have a great choice in Chapman-Dodge. We can manage that out of pocket (thanks to generous merit/talent scholarship) and that = No Debt. Thank Heavens DS <em>loves</em> that school. We would have liked to see which school he’d choose in a fair fight, but I guess we’ll never know. :)</p>
<p>Qualifier: It is wonderful seeing how generous USC is with low income/hardship kids. Love it! Appreciate it!!! I just wish there were better options for middle-class folks (beyond liquidating our houses and/or taking on massive loans as we plan for retirement). We knew nothing was guaranteed, of course; that’s why DS planned for (and now has) other great options. But I’m still a bit disappointed in the FA outcome at USC. I held out some hope that they’d meet us in the middle somewhere, maybe with $8-10k that would render USC within reach for a regular family such as ourselves. Looks like it’s close but no cigar, however: we are $10-15k short a year no matter how we stretch or how mightily we sacrifice. </p>
<p>Ah well, so it goes! We are happy just the same and DS is happy–that is all that matters. Good luck, everyone. Here’s hoping things work out for you all in the end.</p>
<p>PS
The crazy thing that keeps sticking in my head: H and I brainstormed all week trying to figure out a way this could happen (should DS conclude that maybe he <em>does</em> prefer USC). And we’ve managed to come up with an extra $9k a year. But even with $41,000 (X 4) generated by hook or by crook (seeing no movies and not eating out for 4 years, selling a car, taking no trips, working even MORE overtime, car-pooling, selling personal belongings, cashing out an IRA that H will never live long enough to see)–that <em>crazily</em> isn’t enough. </p>
<p>$164,000 and it still isn’t ENOUGH? </p>
<p>This really drove home for me how out of control college costs are for low income AND middle class people.</p>
<p>And so, I wonder: in ten years, will USC be populated largely by the poor and the very rich? There won’t be many middlers, like our son and so many of you, I imagine. And that’s a sad thing.</p>
<p>I STILL haven’t received my financial aid award. I’m starting to get really nervous. I visited my 2nd choice school today and I really LOVE it (plus it’s in Chicago, my hometown, so I don’t need to pay for a flight every time I want to come home!). SO at least I know I have a good back up school in case I can’t afford USC, which is a definite possibility! I can probably afford $25,000 a year MAX – and by the looks of other students’ awards, it doesn’t look like I should hope for much! I was initially set on appealing my financial award at USC if it wasn’t sufficient, but I’m starting to wonder if it would even be worth my time – especially when I could be enrolling in my 2nd choice school and securing good housing there. GAH!</p>
<p>I echo the frustration of the middle class. :/</p>
<p>The calculator is off by about 5000 per year. The need-based aid was superseded by D1’s Presidential scholarship. I am thrilled that she is a Presidential Scholar, but wish that the need based and merit based aid could be stacked.</p>
<p>We are going to bite the bullet and go into massive debt for this. I suppose that I will still be making payments during retirement…</p>
<p>I think that college it truly becoming a club of the haves and the have nots.</p>
<p>If you are middle class, expect USC’s package to be the worst. I’m going to do everything I can to appeal it, including visiting the office in person. I guess if it’s not meant to be, it won’t work. All I can do is try.</p>
<p>We are also still waiting and after reading all these posts, am even more worried about aid. We are also in the lucky position of having enough to get by, but unlucky in that we certainly don’t have anywhere near enough to pay for college and got zero from the UC’s. Stressing big time and praying for the Trojan Financial Aid God’s to smile generously upon us! Hope that we find out soon and good luck to everyone else as well!</p>
<p>My son decided today not to attend his dream school- USC. Perfect match and he worked so hard to keep his 4.0 all this time. WE are upper middle class and I save half of the cost and promised to take out the over 100K in loans- which I would be paying for well into retirement. More than willing, though like many my company is cutting back and I could be out within 6 months or so. It is not just low income or middle class who are impacted by these insane costs. Out of state and a $240 K price tag is huge. Son decided it was not worth the risk and saved me from myself. He is tuition free at state flagship. Hope USC is an option for grad school! We both loved the school during Explore last week. Hope everyone makes the prudent choice and be very careful with debt.</p>
<p>What a fine, wise son you have, ComputerDad. </p>
<p>Your post is timely --many of us are struggling with this dilemma and understand your anguish. H and I have not yet entirely <em>let go</em> of USC (School of Cinema Arts) for our son. But we are 10-15k short per year no matter how we juggle and stretch. </p>
<p>It is a shame that so many middle class people are full pay at USC. As you point out, jobs and retirement are not secure for many in the upper middle class, either. Where does USC manage to find all these people who can pay almost a quarter million dollars?</p>
<p>As someone noted upstream, USC’s aid seems more erratic than many schools: it’s a bit feast or famine. They are wondrously generous to some and others are full pay when that’s entirely impossible.</p>
<p>I’m so sorry everyone! I’m sure my aid will come through just the same, which just will not work. I’m just looking at it as more of a blessing lately, things happen for a reason and this just will help me get closer to a decision. It does bother me that the school’s net price calculator is so far off. The point of that thing is to give us an idea before we apply if it is even a realistic opinion. Oh well. Also, the fact that it is this late in the game and still no financial award is a but off putting. All my other schools have told me by now and I just am ready to commit!</p>
<p>Its goodbye USC for me!! Even with a $12,500 scholarship, my EFC is $47K/year!!! My parents can pay $25K/year, so UT Austin, here I come!!! My father says our house isn’t worth $240K (Worth $230K), he paid for his college with the GI Bill and a couple loans totaling $3500 over 20 years ago. Paid the loans off within one year so he wouldn’t have to pay interest.</p>
<p>Duke - UT Austin is a great school. Good luck!!</p>
<p>KaiLun - I’m thinking the same thing! Very anxious. I want to get housing and finally tell people where I’m going. Can’t make my decision until I get my award letter…</p>
<p>Everyone else - sorry to hear about the disappointing financial aid awards! I’m sure there are other awesome schools that are perfect for your S or D. I know I’ll probably be in the same boat once I receive my letter…</p>
<p>Is it recommended to just send in a housing deposit to get good housing in case the financial aid is good? I don’t know if it will be bad if I send it the $45, but then realize later on that USC is too expensive and not attend. :(</p>
Hope that we find out soon and good luck to everyone else as well!</p>
I’m sure there are other awesome schools that are perfect for your S or D. I know I’ll probably be in the same boat once I receive my letter…</p>