How can I pay for college--High EFC, but can't afford to pay that much?

Paying for College
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<p>Okay, so I'm in the process of applying to colleges. My parents are really secretive about our income so I have no idea how much they make, but what I do know is that a) They've told me we can only pay $18,000 a year for college, and b) Our estimated EFC (expected family contribution), which they obtained from a "practice FAFSA" is $90,000.</p>

<p>They're getting close to their retirement age (my mom's 61 and my dad's close to 60), so that might be part of why we can only pay that small-ish amount for college. Also, a large portion of the $18,000 we can pay is my personal money--I have a GET plan (which gives me enough money to cover tuition at Washington State public universities, so about $10,000 I think), and several of my relatives have passed away and left me money for college. Does the FAFSA place higher weight on a student's own money or something?</p>

<p>My family isn't rich, we're something like middle-class (although we did take a 1/3 cut to our income after my mom got laid off last year. [She just started her new job a few weeks ago.]). The thing is, they send me to a private high school that costs $14k a year, so that's taking a huge chunk out of the money we could have used on college (their choice, not mine). </p>

<p>I really want to go to a good out-of-state college, but I just don't have enough money! All the colleges at the top of my list are somewhere between $30k and $50k. For example, UCLA would probably cost me about... $46k? But that leaves me $28k short. I have good enough grades to get into these schools, but my grades aren't good enough to get me a merit-based full ride or anything even close... My test scores are off the chart (35 on ACT, 2240 on SAT, 4s and 5s on all my AP tests) and a National Merit Semifinalist (fingers crossed for finalist), but colleges don't exactly give people a full ride or large amounts of money for doing well on the SATs.</p>

<p>How do I pay for college? I really can't go to college in Washington... I'm miserable here, and I don't like UW, which is the only really good college in the area. Help!</p>

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<p>The FAFSA calculations expect the student to contribute 20% of assets and only 5.6% of parent’s assets. An EFC of $90K is a little higher than middle class. That would be an income north of $250K which is well within the top 5% of US incomes.</p>

<p>With your scores you could get a full tuition scholarship + at U of Alabama. Mom2Ck should be along any minute to tell you more about that. Here are some threads you can look through:
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html&lt;/a&gt;
<a href=“http://talk.collegeconfidential.com/national-merit-scholarships/649276-nmf-scholarships-updated-compilation.html[/url]”>http://talk.collegeconfidential.com/national-merit-scholarships/649276-nmf-scholarships-updated-compilation.html&lt;/a&gt;&lt;/p&gt;

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<p>My test scores are off the chart (35 on ACT, 2240 on SAT, 4s and 5s on all my AP tests) and a National Merit Semifinalist (fingers crossed for finalist), but colleges don’t exactly give people a full ride or large amounts of money for doing well on the SATs.</p>

<p>Well, many don’t, but some do. What is your weighted GPA? </p>

<p>And, since you’re a NMSF, you’ll make NMF as long as you have a good GPA, you do the NMSF paperwork correctly, you’re not a discipline problem at school, and you send your scores to NMCorp…code 0085</p>

<p>Since you have high test scores and you’re a NMSF, you have options that others don’t have when their EFCs are unaffordable. When others have unaffordable EFCs, then they just have to go to their local state school. But, those with high stats have options because there are some schools that will give them big merit scholarships for their stats.</p>

<p>Since you know you and your parents can contribute $18k per year, then you know what you’re up against…and thank goodness you found out now and not when it’s too late!</p>

<p>That $18k will pay for room, board, books, fees, travel back and forth a few times per year, misc expenses, and your personal expenses (daily pocket money). That means that you need either a full tuition scholarship or close to it. That’s doable as long as your GPA isn’t too low. What is it?</p>

<p>What is your major and intended career? </p>

<p>Forget about UCLA…they won’t give you the merit you need. The UCs want OOS students to pay the big bucks to help their dismal financial situation. You need to focus on schools that will give you big bucks for your stats.</p>

<p>An EFC of $90K is a little higher than middle class. That would be an income north of $250K which is well within the top 5% of US incomes.</p>

<p>True…but the family may have assets which is driving up the EFC…also, the student’s own assets are pushing it up.</p>

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<p>^ Besides Alabama (which you surprisingly didn’t mention), which schools do give large scholarships for high SAT/ACT/GPA (though not necessarily NMSF)?</p>

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<p>Chardo, Look at the link for Automatic/Guaranteed Merit Scholarships above.</p>

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<p>How many GET credits do you have? UW/WSU future tuition increases will help their value stay up. What’s your GPA, intended major? With those scores, depending on GPA you could get good merit at many privates. Also, look at WUE and merit scholarships in places like Montana, etc. What kind of school are you looking for and why? I totally understand Huskyphobia, but you actually have lots of options away from Seattle if your parents can do $18000/year.</p>

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<p>Can you clarify…</p>

<p>Is the GET money included in your estimate of $18k per year? Instate tuition at UWash is about $10k from GET…so are you saying that your parents and your inheritance saving can provide an additional $8k per year? Or are you saying that you have the GET money PLUS $18k per year.</p>

<p>You also need to find out how much of the GET money can be used OOS. Often there is a reduction when the money is used OOS.</p>

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<p>From the GET website: Although the value of your account is determined by tuition costs at UW or WSU, you can use your account nationwide at practically any public or private college, university or vocational school, and the monetary value remains the same.
You can use your GET units at nearly any public or private college, university or vocational school in the United States and at selected colleges in other countries. A college is eligible if it participates in federal financial aid programs through the U.S. Department of Education. For a list of participating schools, visit the Free Application for Federal Student Aid (FAFSA) Web site. .</p>

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<p>Agree with the others’ posts, although one comment you made struck me a little strangely. It was regarding your parents decision to send you to Private HS. Perhaps that decision (‘theirs not yours’) helped get you those ‘off the charts’ scores. Make sure you consider that before blaming your parents for spending your college money on high school, and those off the chart scores may save you and your family big $ when it comes to College expenses. </p>

<p>My advice is to cast a “wide net” be sure to include a couple financial safety schools, Alabama being a great one!! Others might include ASU, Ariz. and some in schools in the Southeast (like South Carolina, Clemson, Auburn), they are not guaranteed $ like Alab., but potentially can get you instate rates that will get your costs close to your magic #. </p>

<p>Lastly, 18K is not your limit…you can get a job school or take out Stafford Loans to help offset some of the additional costs that you might have.</p>

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<p>*My advice is to cast a “wide net” be sure to include a couple financial safety schools, Alabama being a great one!! *</p>

<p>Yes…if his weighted GPA is at least a 3.5 and he applies before Dec 1st, then Alabama would give him free tuition. :)</p>

<p>And, depending on his major, he could get more money. If his major is engineering or comp sci, then he’d get an additional 2500 per year stacked on top. </p>

<p>Either way, his remaining costs would be far below $18k per year which would allow for plane travel costs, study abroad adventures, etc.</p>

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<p>I had roommates who all transferred in after two years at a State school or Junior College. All did very well and got involved and had a blast.</p>

<p>Have you given transferring from a state school after two years a thought? At that point, you may have enough to pay or have earned a merit scholarship. Just a thought.</p>

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<p>orangemom…many schools have very limited scholarship money for transfer students…and UCLA doesn’t really have much of anything for transfers from out of state.</p>

<p>Where did the students you know transfer TO…that could make a difference? </p>

<p>To the OP…your SAT scores are very good. If your GPA is on par with them, you should have NO trouble finding a school with some merit aid that could potentially make college very affordable for your family.</p>

<p>As noted…with a “practice EFC” of $90,000, your family’s income is in the over $250K range. HOWEVER, they ARE willing to pay $18,000 per year for your schooling. You have some options to explore…if you attain NMSF status, there are some schools where free tuition will be yours for the taking.</p>