<p>Families income is between $75,000 and 99,000. I am oss (31 act 95 average or 4.0 740 and 630 sat2)</p>
<p>Please help because I am worried I won't be able to afford it</p>
<p>Run the net price calculator for the college. The college does not have to meet your full need.</p>
<p>Many OOS colleges won’t give you aid beyond federal entitlements but a few will and some have automatic or competitive merit awards. So it depends Google for the NPC.</p>
<p>The is no universally correct number, it varies by university, and frequently a full financial aid “package” will include four elements: grant, loan, work/study, and persona/parental contribution. The NPC is your friend; use it often and be exacting in the data you input. </p>
<p>I ran the calc and it gave me rougly $40,000. I don’t know if this can be correct. Can it be possible?</p>
<p>Do you and your parents have a lot of assets? Are you an only child?</p>
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<p>Of course it can be possible. But how can we know if it’s correct if we don’t know what school you’re talking about or what numbers you used?</p>
<p>Can you copy/paste the results? And, did you get the numbers from your parents?</p>
<p>What have your PARENTS said about how much they’ll pay each year?</p>
<p>Not many assets and I have a sibling</p>
<p>You have to run the NPC on EACH website - each university calculates differently.
In addition, many OOS public universities do not give financial aid at all; some have merit aid for stats. Private universities don’t differentiate between instate and OOS for financial aid, and many LACs favor OOS applicants who bring geographical diversity.
Therefore, we need to know your state and the colleges you’re applied to/are looking at…</p>
<p>I’m only wondering about michigan. I’m from NY and the npc gave me a net price of only
8500 dollars to pay after all the grants that they gave me. I don’t know if that’s accurate thought </p>
<p>Did you check “out of state”?</p>
<p>@thisguy2727 Please post the award results andtat is a large range for a salary estimate. If the salaries are close to 100 k then you will might pay around 18k. If they are 75k then you might psy around 9 k best case scenario. ROT</p>
<p>I agree with @gearmom </p>
<p>That net cost sounds way too low. For that income, the family contribution should be closer to $20k. </p>
<p>Also, there should have been Federal Direct loans listed in the FA pkg.</p>
<p>UMich is a CSS Profile school and isn’t usually that generous. Even instate parents with that income usually have to pay much more than $8500.</p>
<p>Do your parents make retirement contributions to a 401k or other plans? If so, then maybe your family didn’t realize that they have to add those annual amounts back in.</p>
<p>I would not count on that being the net cost at all. I would more likely suspect that there will be full loans in the FA pkg plus a family contribution of around $15k or more.</p>
<p>Are your parents self-employed? Do they take any kind of business deductions?</p>
<p>Actually, UMich has very generous need based aid for IN state students, meeting full need for all accepted instate students.</p>
<p>UMich does NOT guarantee to meet full need for all OOS students. </p>
<p>With a $90,000 family income, your family contribution would most likely be between $25,000 and $30,000 a year (1/4 to 1/4 of your family gross income…as an estimate). I can’t imagine your net cost would be only $8500 if your income is about $90,000. And since Mich doesn’t guarantee to meet full need for OOS students, that $25k to $30k EFC would be the minimum you would be expected to pay.</p>