Can anyone speak about their experience with receiving a substantial financial aid package over the four years? I have read in the student paper, The Trojan, that many students have money taken away each year, requiring students to take out large loans or even worse, having to leave the school because the aid was so drastically reduced.
Grants will decrease slightly as the direct loan limit rises each year, since both are used to “meet need.” Other than that, my packages have been consistent so far.
Students who loose a large amount of aid most likely had a significant increase in income/assets or previously had a sibling in college & now don’t.
Out of schools that meet need, USC doesn’t have the most stellar packages. However, after that 1st package, I don’t think they decrease aid for no reason. Does that make sense?
If there is a significant change in annual income, there will be a shift–both upward or downward in Grant Aid. If a parent loses a job, a sibling enters college, or a financial disaster arises, USC FA will increase. If a sibling leaves college or income rises dramatically (for instance, family owned business or large windfall), FA will decrease. There have been several stories about shocked and angry students finding their FA so reduced they leave USC, but upon closer examination, each one seems to have been hit by the scenario above–sister or brother left college, etc.
If income, assets, number in family, number in college remain constant, aid will not change much.
Yup. They don’t “bait & switch.” There’s a reasonable explanation for every change in aid.