<p>My brother and I (twins) want to go to Pepperdine. Assuming we can get in, the cost for both of us would be around $110,000 a year. Although my parents have a combined high income (around 250-300K), they still cannot afford to spend 1/3 of that on college. My question is if there is any aid for having multiple kids in college (my sister is also in college), or if I could get any financial aid?</p>
<p>Colleges now have something called the net price calculator that you can get to on the college financial aid website page. You can work with your parents to plug in their income and asset information, and most ask how many kids will be in college at the same time, and get an idea of aid for one kid given that information. Although I doubt with that kind of income you would get much if anything – and at some point your sister will graduate, so you will be down to 2 in college. But it is worth running the numbers.</p>
<p>Colleges expect that families will generally pay some from savings (have your parents saved anything for your education?), some from current income, and that the kids will probably borrow some if necessary. They also assume students work during summers, and during the school year part time if needed. </p>
<p>You need to figure out some affordable school options – have your parents said how much they can pay? What state do you live in, and what are your proposed majors?</p>
<p>With an income of $300,000 a year, your FAFSA EFC will be somewhere between $75,000 a year and $100,000 a year. However, this EFC will be split between all of,the siblings in college. It’s not usually divided equally. But if there are three in college EACH of you would have an EFC between $25,000 and $33,000 a year. </p>
<p>Your family will be expected to pay their EFC. So essentially, they will be paying that $75k to $100k…AT least…for all three of you to attend college.</p>
<p>Pepperdine does NOT guarantee to meet full need of all students, and they don’t. Your EFC should be viewed as a MINIMUM of what you will be paying to attend college.</p>
<p>If you receive merit aid, this will reduce your financial need, and your need based aid will be reduced.</p>
<p>I would suggest you run the Net price Calculator on the Pepperdine website using your family’s financial figures. This will give you a good estimate if what each of you will be expected to pay for the year.</p>
<p>Your family may be expected to pay MORE than their FAFSA EFC – colleges calculate need their own way, and their estimate of EFC will likely be higher than the FAFSA one, especially at a college that does not meet need.</p>
<p>I have visited Miami of Ohio and Alabama. I could probably go to both places for under 10k. I’m from KY, and would get paid to go there, because they like to keep people in state. After doing research, I also like the University of San Diego. Does anyone know what kind of aid I could get at USD, or UCLA? I calculated the net price of Pepperdine, and it came out to $30,000. If I received more merit aid, and could go for around $20,000, I would go immediately.</p>
<p>As an OOS, UCLA will give you very little aid. You would expected to come up with at least $25,000 on top of your EFC. Since USD is private, they will probably have more generous aid. I would check out the USD acceptance threads to see what other admits are saying about their financial aid packages. Please run the NPC on the schools you are interested in and see how your family can contribute. There is no point in applying to schools you cannot afford. Good Luck.</p>
<p>UCLA is easy. For need based aid at UCLA, you will not receive the differential between in and out of state costs…about $23,000 a year. You will also not receive need based aid to fund your EFC. So, at the very least, UCLA will cost you $23,000 a year…likely more. </p>
<p>ETA…this means that you likely would receive NO need based aid from UCLA. Your EFC…just for you…is about $30,000. Add that to the $23,000 differential, and you get $53,000…pretty much the cost of attending UCLA as an OOS student. Thus, no aid, except a Direct Loan of $5500.</p>
<p>University of San Diego and Pepperdine do NOT guarantee to meet full need for all accepted students…and they don’t. Their net price calculators are pretty accurate. If they say your net cost will be $30,000 a year, it’s likely that is the LEAST you can expect to pay there. In addition, USD does NOT discuss their need based financial aid awards at all in terms of “negotiating” more aid. We know, because we tried. They won’t even talk about it. Not at all.</p>
<p>I calculated the net price of Pepperdine, and it came out to $30,000. If I received more merit aid, and could go for around $20,000, I would go immediately.</p>
<p>You said in your initial post that it would be $110,000/year for you and your twin to go to Pepperdine. Yet now you say $30K. When you say you calculated the net price, do you mean you ran the calculator with help from your parents to include their assets and income? And is $30K out of reach given your family income and that you live in a relatively low cost area of the country? $250-300K doesn’t go to far in NYC or the bay area, but it is a very high income in KY.</p>
<p>What is it about Pepperdine that appeals to you? Maybe you can find those qualities in a more reasonably-price school.</p>
<p>My parents don’t want to pay more than 20k each for my brother and I. They have allowed us to attend a private school so that they wouldn’t have to pay 60k for my brother and I to go to college, and I can’t blame them. I love California. Does USD give a lot if merit based scholarships, because I have a 3.8 GPA unweighted, 4.06 weighted. I’m a rising junior and expect to get a 32 or 33 on my ACT. Going somewhere in California for college is sorta like a reach, because it is so expensive, but who knows</p>
<p>@conner10397: Good Luck in finding a school in California that will end up costing your parents $20K each. I am a California resident with an income of $220K last year. Both my sons will be in college this Fall and they received $0 financial aid except for the $5500 in loans. I will be paying $30K for my older son at UCD and $20K for my younger son at SDSU. You and your parents need to be realistic and realize that if you want to California, they will have the fork over the money or it will not happen. If they make that much, why haven’t they set aside more money for college. Yes, I understand that they paid for private school, so did I, but I was able to save enough that my kids will not have to take out any loans and come out debt free for their Undergrad.<br>
Sit down with your parents and get the real facts. There is no point in applying to schools you cannot afford.
Good Luck.</p>
<p>USD does give some merit awards…but they are not in the range you are talking about, and they are not guaranteed awards.</p>
<p>Thanks to everyone for the advice. It seems like colleges in California are a bit out of reach for me, but hey, life goes on.</p>
<p>Pepperdine is affiliated with the Church of Christ and has some scholarships for members of that religion. I wasn’t sure if the religious aspect of Pepperdine was of interest to you or if it was the Malibu location.</p>
<p>Not sure why parents think paying for private school makes college less expensive… in fact, it probably raises your expectations for things like small class size and individual attention that tends to be part of more expensive colleges. </p>
<p>University of Kentucky would pay me to go to school there. If I decided to not stay in the nicest dorms at Alabama, I could go there almost free. The education I have received will allow me to go to college for no cost. The schools I am talking about are my reach schools. I need to figure our how to pay for these college.</p>
<p>You need to realize there may not be a way to make your reaches affordable. As long as you have a safety or 2 you’d be happy to attend then that’s ok</p>
<p>My safety schools are Miami of Ohio, Alabama, and Kentucky. I just have a few dream schools that I understand are probably out of reach financially.</p>
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<p>How could you go to Bama for almost free if you stay in a standard double? </p>
<p>Maybe the OP means that he wouldn’t pay anything in that instance because his parents would pay for the standard double and books and travel and misc?</p>