Hey all,
So I guess I’ll break this down a bit.
LMU’s total COA is estimated ~$61,269.
My EFC is $3,922. Sure.
My package looks like:
LMU Grant (Academic Year) $6,600
Federal Pell Grant (Academic Year) $1,825
Federal SEOG Grant (Academic Year) $1,000
Federal College Work Study (Academic Year) $3,200
LMU Burns Student Loan (Academic Year) $2,500
Federal Direct Subsidized Stafford Loan (Academic Year) $3,500
Federal Direct Unsubsidized Stafford Loan (Academic Year) $2,000
Total Financial Aid: $20,625
So the total left to be covered is $40,644. Yikes.
Somehow I feel like this could somehow work out? Am I crazy?
I have a job where I make about 16k a year, but my parents can’t take out any PLUS loans or anything. I’ve applied for around 15 scholarships worth $1,000-$10,000, but I won’t know about any of those until after the commitment deadline of May 1st. Thinking towards the future, Being an RA could take about 14k off my total cost each year. I don’t know, just kind of dumping my stressed-out brain here. Opinions? Advice? Thanks, all.
No, you cannot cover a $41k gap. No way. Can’t be done. And almost have your package is already loans, so there’s nothing left for you to borrow.
I’m sorry. 
And the problem with scholarships, even if you could win them all, is that they’re usually for one year only. Do you have any more affordable options?
Your willingness to work and to be an RA is commendable, but this is just beyond your reach.
??
Once you’re at LMU, how will you still have that job that earns $16k per year??? what kind of job is it? how many hours per week? What is your hourly salary.
I doubt that the school allows frosh to be RAs…and those positions are highly competitive, and no guarantee year to year.
Your actual cost is 50,000 a year. Loans have to be repaid so that is an actual cost. People with low enough income to get Pell Grants can afford pricey privates that will cost them 200,000 unless they get into a school that meets their full need.
Sorry it is disappointing but that is a huge Gap and there is no way you can make that up even for the first year, not ot mention multiple years. It is time to be sad for a minute then move on.