<p>My EFC is roughly 12,000. I am a transfer student hoping to transfer to Biola or Pepperdine this spring. It costs $40,000+ for each school. So is my family only going to have to pay $12,000 and the rest will somehow get covered? I don't get it.</p>
<p>no, that’s not what it means.</p>
<p>Your EFC is a misnomer. It just a number to determine if you qualify for federal aid. With your EFC, you do not qualify for federal grants. You qualify for loans (small ones) and maybe some work study.</p>
<p>Schools don’t have to do ANYTHING with your EFC except see if you qualify for aid.</p>
<p>Transfer students tend to get the worst aid. You may not get any free money, or you may only get a small amount from the school.</p>
<p>Neither of those schools promise to meet need for transfer students. </p>
<p>Does Pepperdine use CSS Profile as well?</p>
<p>It’s very likely that your family will be expected to pay a LOT more than its EFC.</p>
<p>Since transfer students often get the worst aid offers, be sure to apply to some CSUs and UCs as well, including some that you can commute to. Otherwise you might end up with no affordable schools.</p>
<p>Pepperdine ON AVERAGE meets 78% of need. <a href=“https://storage.pepperdine.edu/Departments/Institutional-effectiveness/Web%20Docs%20Current/Data%20Warehouse/Common%20Data%20Set/CDS%202011_2012.pdf[/url]”>https://storage.pepperdine.edu/Departments/Institutional-effectiveness/Web%20Docs%20Current/Data%20Warehouse/Common%20Data%20Set/CDS%202011_2012.pdf</a> Section H2</p>
<p>Biola ON AVERAGE meets 56% of need. <a href=“http://www.biola.edu/registrar/research_reporting/common_data_sets/CDS_2011-2012.pdf[/url]”>http://www.biola.edu/registrar/research_reporting/common_data_sets/CDS_2011-2012.pdf</a></p>
<p>Those are averages. This does NOT mean you will get that amount. </p>
<p>Neither Pepperdine nor Biola appear to use the CSS Profile.
<a href=“https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv[/url]”>https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv</a></p>
<p>Erin’s Dad…those averages are likely for incoming frosh, not transfers. </p>
<p>And, averages don’t mean anything. Many of the kids can have high EFCs so their need (or most of their need) was met with a $5500 loan.</p>
<p>At schools that don’t meet need, the gaps are usually larger for those with lower EFCs, because it takes toooo much free money to have a resulting lowish gap.</p>
<p>For Pepperdine transfers…</p>
<p>513- Total students who applied for transfer
20% -104 - transfers admitted
9% - 49 transfers enrolled</p>
<p>The numbers don’t suggest that they’re generious with transfer aid. </p>
<p>Does anyone know if Pepperdine is “need aware” for transfer apps? With a low admittance rate, it suggests to me that they’re need aware for transfers. </p>
<p>Looking closely, it does look like the FA stats are for incoming freshman only because they include merit scholarships that are only for incoming frosh.</p>
<p>I only want to take out about $20,000 on loans. I will have to get some private loans. Is there even the slightest probability that this could be possible at a private school? My parents aren’t helping pay for my tuition. And if not possible at one of the private schools I applied to, would this be possible at a UC? I’m applying to four UCs for fall of 2013.</p>
<p>If you have a cosigner with the necessary credit history, you can get private loans wherever you want. They’re not tied to a school.</p>
<p>If you only want to take out 20k in loans, any school that will cost you more than 20k is off the table, because as has been covered you aren’t going to get any grants. The cheapest UCs are Davis and Merced, costing 26-27k per year for in-state off-campus students.</p>
<p>But again, this is if you have a co-signer. If your parents are not willing to cosign the private loans, you’re probably not going to be able to get $12,000 worth of them, so even at a school that meets full need you might not be able to attend.</p>
<p>Is there a college that you can commute to? Are your parents willing to let you live at home rent free while you finish school? As your parents bring in enough income where you do not qualify for grants and they are not willing to pay for college, you are going to have to consider that you will need to work full time and pay your way through school, taking only as many classes as you can afford to pay for out of pocket. You need to look at your local Cal State. You will not be able to borrow $20,000 per year to go to a sleep away college, and even if you could borrow that much you shouldn’t.</p>
<p>???</p>
<p>Your FA pkg is already going to have full student loans in it to “meet need” - which will include at least $7500 per year.</p>
<p>So are you saying that you’ll need to borrow ANOTHER $10k+ in private loans to go towards the EFC? (Plus to cover any gap in aid). </p>
<p>Who is co-signing your private loans?</p>
<p>Have you borrowed anything so far for frosh/soph years?</p>
<p>It sounds like you’re borrowing a lot.</p>
<p>I think you’re better off going to a UC or CSU…is there one you can commute to?</p>
<p>If the goal is $20k in loans MAX by the time you graduate, then you need a better plan.</p>
<p>Neither Pepperdine nor Biola are likely going to meet need. They both will likely gap you.</p>
<p>And, since they WILL include at least $7500 in loans in their FA pkg towards your need, and will likely gap you at least $5k-10k (or more!) per year, and you’ll be expected to cover your parents’ $12k EFC, then that could mean at least $27k in loans for ONLY ONE YEAR.</p>
<p>Rarely can a student with a lot of need transfer to a private university…especially ones that don’t meet need. Plus, you have the add’l problem of having to cover the family EFC.</p>
<p>edited to add…</p>
<p>Oh, wow, I just noticed that you’re thinking of transferring to those privates for SPRING. That will likely mean even WORSE aid.</p>
<p>Spring admits get awful aid, transfers get awful aid. you may not get much/any grants at all…you may only get loans.</p>
<p>Ok thanks everyone, looks like I’ll be transferring somewhere else in the fall. Right now, I am living at home and commuting. I started off at a CSU three blocks from my house but hated it there so now I am going to a JC. For next fall, I’ll probably end up going to a UC or CSU because I don’t want to have so much debt. My parents are going to help me pay off my loans when they are due but cant contribute to anything now.</p>