Just got my financial aid package back. Depressed and disappointed. Need help understanding if true.

What are your in state options? Do you have a favorite?

Best in state option for me would be the University of Florida. I wouldn’t call it a favorite but is the best option for in state.

You may talk to the FA office. The main problem is the business of your family. Otherwise, your family income and assets are within the need met limit of OOS. When you own a business, the NPC is not accurate and the revenue of the company may be included as your family asset.

“When you own a business, the NPC is not accurate and the revenue of the company may be included as your family asset.”

Interesting. Even if the business had reported losses?

Yes, even with losses. The state schools aren’t supposed to cover your business losses.
You’re asking the public taxpayers to fund you.

You have a good option for Florida.
If all your hopes are dead set on Michigan, then save some money, go to Florida, and try to transfer, but the big money is set to attract freshman. So assume no money, other than federal funding.

@“aunt bea” I will consider transferring, but I assume it will be significantly harder transferring into the CoE. Right?

What ARE your current stats?

Depends on your stats at Florida.

Get your GE requirements and prerequisites out of the way with excellent grades and Engineering ECs.

Indicate on your transfer app that you were previously accepted but lacked funds to attend. Call FA and find out if they have alumni scholarships for incoming transfers from OOS.

@Sybylla

I will keep a bit broad for privacy.

GPA: 3.8
ACT: 32
Great essays and recommendations. Spent months on the essays.

EC’s

Mostly all of my EC’s were engineering focused. Robotics club, a club similar to Michigan solar car, and an internship to name a few.

Does that give you some merit at home? If so, then take it.

Transfers get less aid then freshmen. If you can’t afford Michigan now, it’s extremely unlikely that it will suddenly be affordable in another year or two. Cut your losses and move on.

Can you afford UF with just a merit award, the student loan, and summer work? If so, that’s a great option. Are you waiting to hear from any other schools?

The business may be losing money, but there is still revenue.

@billcsho Yeah, there is revenue. 20k a year to be exact. What’s crazy is that I put it into the NPC and even inflated the amount my parents make to see what it would predict. The net cost came out to 16k a year.

@Sybylla @austinareadad Yes I can afford UF. I got enough aid and merit aid to afford it. It just wasn’t my top choice. Still waiting on other schools.

My other top choice is Georgia Tech. Is it safe to say that I should expect the same level of fin. aid that UM gave me?

If you need substantial FA, don’t apply to OOS public universities. PERIOD. If you have the stats and ECs for the best OOS public universities, you might as well apply to the top-tier privates that meed full need. If you don’t, then the 2nd-tier (or lower) OOS public universities are never worth the extra money relative to your in-state flagship.

@austinmshauri He got nothing. You can’t do any worse. He would have to earn/save money before transferring.

@1NJParent I did apply to top privates. It’s just so competitive and I was really happy and set on UM.

Chances of even admission to GA Tech as OOS are low.

They likely have a state of Florida, Bright Futures scholarship which pays 100% of tuition, plus $300 a semester for books, etc.

UF would be very affordable.

It was perfectly fine to apply to UM and hope some of the scholarships may have come through, but it hasn’t happen, so it’s time to move forward. UM was always a financial and academic reach, being accepted was never the only challenge.

@Monkey288195 Yes, they’re competitive, but many of them aren’t necessarily more so than top-tier public universities for OOS applicants.