I just got my financial aid package from my local, in-state public university (the only college I was admitted into) and I am confused and concerned about my offer. I am from a single mother, low-income family and I tried to specify this on the FAFSA by only filling out information about my mom. I am also on the upper quartile in terms of academics in this college. Despite this, I have been awarded only $200 per year from the college’s own funds. The majority of my cost of attendance is covered but I will still have to take out $8000 in loans per year, which means I have to foot the entire bill of living off campus by myself. I would really like to live off campus, but I made the mistake of not applying to any private scholarships because I thought that being in state and low income would relieve me of practically all college costs. I cannot afford these loans as I plan on going to medical school right after undergrad. Is this kind of package normal for someone of my demographic? Are there any more scholarships I can apply to since the college doesn’t have many of its own scholarships? I plan on appealing but this is all very new to me and I would appreciate any tips or comments.
Do you currently have the $5500 Direct Loan in your financial aid package? If not, you could take that…and then you would have a shortfall of $2500 which you should be able to earn with a job.
Most schools do not meet full need, and nearly NO school guarantees to meet full need as defined by FAFSA EFC. Those that do guarantee to meet full need tend to define need themselves.
As for state colleges and unis, nearly none of them make the guarantee and they tend to gap terribly… Loans are just deferral of payment. Yes, your package is typical. There is’nt much money out there. On top of that, it’s tough gettig big ticket scholarships, though, yes, I suggest you search for them. Don’t know how much good applying to private scholarships would have done for you anyways. The best money come from the colleges themselves and the best thing you could have done was apply to a number of schools, some with good merit and financial aid so you could compare what hauls you might have gotten. You can’t do much with one school. Yes, appeal, but it’s doubtful they will have the funds. In my state, the public colleges and unis are very good about meeting full need up to tuition and fees, but the rest, living expenses, discretionary type costs are on the students. And meeting need usually includes self help like loans and work study. No all grant rides for the most part.
Are there any publics within commuting distance from you? All you would be giving up is $200 from this college, so if you can find something less expensive, you would still get federal enttitlements and could save on living expenses if you commute. Otherwise, working and giving it a go next year,studying the system and going for the money might be the best step,because you did not do this right to have a chance at the money.
What were your test scores, grades? There are schools that give great guaranteed money for high numbers. The best money comes from the schools, not from what out there privately , where the big awards have fierce competition from top contenders.
@thumper1 I got $3500 from the subsidized Stafford loan (the maximum possible) and another other $3500 from the unsubsidized one. The latter one is risky and I’d like to eliminate loans if at all possible (although at this point, that just seems like wishful thinking).
$3500 is the maximum you can get subsidized from Direct (Stafford loans) as a freshman, and $2K is the max unsubsidized from there unless you are independent. What unsub loans are you getting in the amount of $3500? Are you an independent student? Are you a freshman? This is the problem with internet boards. Not enough info. It seems to me that college gave you absolutely NOTHING other than $200. The Direct loans are entitlements you could get at any school. Did you qualify for PELL? Are there any state programs that give low income grants? What is your FAFSA EFC? You are not prepared at all for getting optimal fin aid, IMO. YOu may not be eligible for anything but loans, you understand?
Does your state have any grants for student attending a state school? My daughter’s school does not put that into the FA package until the state approves the budget in June. Every state is different. Might be worth checking with your school’s FA department.
Also you mention living off campus. You might ask the school if the FA package would change if you live on campus.
@cptofthehouse Ah thanks for clearing that up. Unfortunately this is the only public within commuting distance from me and is the only public college in state of good merit for my major. My last resort is to commute and skip out on loans all together, but living on campus has immense benefits for my academics. I can consider loans if repayment for them is held off until I am working under the medical profession or if they are forgiven. At this point, my problem comes down to commuting vs. dorming (which will be footed solely through loans). That is, if appealing makes no drastic improvement in my package which seems like the likely outcome.
@cptofthehouse@noname87 I am looking into state sponsored low income grants because as an independent, incoming freshman with an EFC of zero I have received the maximum award possible through PELL and basic state grants. The only other place I have wiggle room is the FSEOG grant and my college’s own grants. Oh and one quick correction- that is the package I received for living on campus. Thank you for all that answered, if anybody else lurking could provide additional insight you are welcome to.
It is confusing if you are independent or dependent. Because you said in your first post you used your custodial parent income for FAFSA. That is what dependent students do. Students who meet the criteria to be independent for financial aid do not use parent income they only use their own income for FAFSA.
Just because EFC is 0 doesn’t mean any old college you pick will give you money for your COA. There are only around 60 colleges that promise to ‘meet need’ and cover those expenses. But all but the richest of these use student loans in the package. But you have to apply to one of those to get it. Some states, like the UCs in CA will ‘meet need’ for low income students through state grants and university funds, but also using loans Most states do not do that. Looks like yours does not. And many schools who do not ‘meet need’ for all students will do so for some students, the very top of the application pool.
So it is a matter of picking the right colleges for your ‘stats’, in order to get all the aid you need. Using the Net Price Calculator on schools you are looking at to see your expected cost. If you think you are a contender for med school then perhaps you are a very high stats student and there would have been some away options for you. Maybe you applied and didn’t get in some but some schools you may not have heard of have guaranteed awards
Now deadlines for scholarships are likely over. I don’t see what you can do now except commute. Keep applying for random scholarships each year. Department scholarships at your uni. Unless you want to take a gap year. Even if you defer loans during med school they are accruing interest. I would not expect them to be forgiven.
These are the loans you can take out, unless you are also offered Perkins loan
Student Federal Direct Loan
Dependent/Independent
freshman 5,500/9,500
sophomore 6,500/10,500
jr 7,500/12,500
sr 7,500/12,500
In our OP you said you were going ot have to pay to live off campus, now you are saying you want to live on campus. Can you clarify? Sounds like to help manage costs you will have to commute. This may be less convenient but sot that big a deal.
Is the OP planning to live off campus in an apartment or room…or is the OP planning to commute from home? There is a difference in the cost. Usually commuting from home costs less than renting an apartment in CA.
Apologies for my typo-- The poster sasi in the OP that they were going to live off campus, but later said there was benefit to living on campus because of their major. Then there was mention of commuting. OP, can you clarify?
What does your school cost in tution and fees? What exactly did you get as financial aid? Not loans, but grants. You say you have $200 from the school. Did you get PELL from the federal governement ? Any state aid? You are entitled to borrow $5500 in Direct loans, up to $3500 of it subsidized (no interest accruing until after you are no longer a full time student). How are you intending to pay for the most essential tuition and fees? Do you have a job? Do you have savings?
How much would it cost to move out of your house and live on or near campus on your own? Yes, I understand that you would prefer to do this. But the question is whether you can afford to do this. Frankly, I think it is insane to cut thing so tightly and try to do live on your own when you can commute and have some of your expenses taken care of by your mother. You’ll be paying for this privilege even as you pay for current living expenses when your are finished with college if you do this with loans, and it will be painful.