Low income family, good scores, can I pay for CU?

Paying for College
1

<p>Hey guys. I am a junior who's in Colorado. Here's my situation:</p>

<p>I am interested in computer science and have been looking at CU and CSU. My family has a low income. Mom lost her job last year, dad's job isn't very well paying. Money is very very tight, and the expected family contribution is very low, if not $0.</p>

<p>I just took an ACT last month for the first time and got a 31. I know I can get a 33 if I try hard, and I will aim for that over the summer. My GPA after this junior year will be a ~3.37 unweighted and a 3.47 weighted. I have taken AP, Honors, or advanced classes for the majority of my high school career. I am taking 2 AP classes now, and 2 honors classes.</p>

<p>I need all the help I can get concerning any financial aid I can get, since my family will not be able to pay for my college. What can help me get the most? If it helps, I was born in Asia, speak Russian fluently (although reading/writing I'm terrible at). Also, since my parents got their education in the USSR, they don't have US degrees, which means if I get into college I'll be the first in my family. </p>

<p>Thanks in advance. Any help is appreciated.</p>

2

<p>Does the state of Colorado give state aid to help low income? If so, then it may be affordable. If the state doesn’t give much/any state aid, then it may not be.</p>

<p>To get into other schools that give great aid or merit, your GPA may be an obstacle. </p>

<p>There are some schools that give merit for high test scores, but fewer that give when GPA is below a 3.5. There are a few.</p>

<p>You’re going to have to have more than just those two schools on your list and you’re going to need a carefully selected list. I wouldn’t bother with many top schools since your GPA will be a problem there. Don’t bother with many OOS publics unless you’re certain that they will give you very large merit.</p>

<p>If your parents went to college in the USSR, then you’re not the first to go to college…even if you’re the first to go in the US. First gen college means that your parents didn’t go to college anywhere.</p>

3

<p>I forgot to add…</p>

<p>If you’re a US citizen or green card holder, and you are low income, then you probably will qualify for a Pell Grant, but it’s not much. For an EFC of 0, a Pell Grant is only $5550 per year. Obviously, not enough to pay for college. You can also get a $5500 loan for frosh year. Again, not enough to go away to school. </p>

<p>That’s why it’s important to find out if the state of Colorado gives aid to its low income residents for Colorado schools (that aid will only be for going instate). If so, then find out how much aid you’d get.</p>

<p>Have your parents use a NPC calculator on CU’s and CSU’s websites. That will give you an idea of the aid you’d get and if you’d get any state aid as well. Look to see how much you’d still have to pay after aid.</p>

<p>What can help me get the most</p>

<p>A better GPA and test scores. </p>

<p>You should also work this summer to have some money saved. </p>

<p>What is your likely major?</p>

<p>It sounds like your parents won’t be able to contribute anything towards college. Is that true? Hopefully your mom will find another job.</p>

4

<p>Neither school guarantees to meet full need, nor do they do so. You will have to look on their financial aid website to see if your stats will get you any guaranteed scholarships. As to discretionary awards, that really is a lottery ticket, and always is. I have friends whose kids went and go to the state schools in Co and they didn’t get anything in terms of merit with stats like yours. </p>

<p>As Mom2 asks, you should find out if there are any state financial aid programs, I am not aware of any, but I am not a CO resident. In terms of federal aid, you should run an EFC estimator and see what your family EFC will probably be. You are entitled to up to $5550 in PELL grant money; that is for a zero EFC and it reduces as family income is higher, and up to $5500 in Stafford loans, some of it possibly subsidized. That is all that is guaranteed. </p>

<p>Make sure you have some local state options on your list, as those amounts are not going pay for you to live at college and there is no assurance that you will get any more than that. You will certainly be able to at very least borrow enough to go to a community or local state school.</p>

5

<p>You might want to look at University of New Mexico. It looks like they will give full out of state tuition for a 31 ACT. Along with a Pell grant and a Stafford loan, you could afford that. Try to get a job this summer and save money.</p>

<p>Before school is out, see if you can improve your grades. 3.5 is the minimum for merit aid at many schools. Senior year may not count.</p>

<p>Ace your finals, ask for extra credit, beg and plead. It could be that important to your future. See if you can take summer school to replace a grade or take a CC summer course. You are so close.</p>

6

<p>*Before school is out, see if you can improve your grades. 3.5 is the minimum for merit aid at many schools. Senior year may not count.</p>

<p>Ace your finals, ask for extra credit, beg and plead. It could be that important to your future. See if you can take summer school to replace a grade or take a CC summer course. You are so close.*</p>

<p>Very true…you need to do whatever you can to raise your grades this last semester. Speak to your teachers about extra credit or whatever. If you can end this year with a cumulative 3.5 GPA plus, you’ll have more options.</p>

<p>If you do use a FAFSA calculator, that will ONLY tell you an estimate of federal aid. It is NOT a true estimate of what your family will be expected to pay. The name is misleading.</p>

<p>Frankly, I think the CU and CSU net price calculators will probably be more accurate for you in regards to fed and state aid you might get.</p>

<p>Yes, to the suggestion of UNM. Other schools that might give you large merit (depending on your GPA) are: Miss State, UA-Birmingham, UA-Huntsville, Alabama (if you get your weighted GPA to a 3.5 this year - cumulative)</p>

<p>Is that your GPA including ALL classes? Including PE and electives???</p>

7

<p>If you want to branch out of CU and CSU, look at North Carolina State in Raleigh as well. My niece was accepted with similar stats and was out of state. They met her full financial need as well. Go on princeton review or college navigator and pull up schools that interest you. They list what percentage a school meets full need. If its 95% or above there’s a good chance they will find funds if you are accepted. It may be loans, so keep that in mind. Then call the schools financial aid office to make sure the policy hasn’t changed because many schools are tightening their belts, especially for out of state students. Apply for scholarships based on need and if all else fails, consider going to community for a year or two, work on getting a top GPA then transfer to a 4 year school. Good luck to you and keep your head up. There are a lot of kids in your situation. It may take a bit more work and patience on your part, but you can go to college if that is your dream.</p>

8

<p>I just tried out CU’s NPC and put in a family of four, income $30k-40k, one child in college, instate.</p>

<p>A. Your estimated Total Cost of Attendance without Grant Aid $25,747.00</p>

<p>B. Your estimated Net Cost after Grant Aid $14,997.00</p>

<p>C. Your estimated Net Cost after Grant Aid, Student Loans, Work Study, and Other Aid $7,697.00</p>

<p>A. Cost of Attendance Breakdowns for this Institution
Estimated annual tuition and fees $8,511.00
Estimated room and board $10,792.00
Estimated books and supplies $1,748.00
Estimated other expenses (transportation, personal, etc) $4,696.00
Your Estimated Total Cost of Attendance Without Grant Aid $25,747.00</p>

<p>B. More Information on Grant Aid
Tip: This net cost estimate is your approximate cost after grant aid. Grant aid is money that does not have to be paid back. Estimates of grant aid include federal aid programs and may include other need or merit aid.
Estimated Grant Aid … $10,750.00 (about half of this is federal grants)</p>

<p>Your Estimated Net Cost after Grant Aid $14,997.00</p>

<p>C. More Information on Student Loans, Work Study, and Other Aid
Tip: This cost estimate is your approximate cost after grant aid, subsidized student loans, work study and/or any other other aid. The money from any loans must be paid back when you leave the institution</p>

<p>Estimated Subsidized Student Loans or Work Study $3,500.00</p>

<p>Estimated Other Aid (may include state or institution programs based on need or merit) $3,800.00</p>

<p>Your estimated Net Cost after Grant Aid, Student Loans, Work Study, and Other Aid:… $7,697</p>

<p>So, according to the NPC at Colorado, you would still have to come up with about $8,000 per year after getting some grants, merit, loans, and work-study (earnings from a job).</p>

<p>Since it sounds like your family can’t contribution much, it would probably be very hard for you to bridge that gap on your own. Again, this is just an estimate. The actual numbers could be higher or lower.</p>

<p>You can get an additional $2000 in unsub loans and you might get awarded some work-study for the school year (about $1800 for CU frosh). </p>

<p>You need to protect yourself by applying to schools that you know will give you large merit as safeties.</p>

9

<p>Do you live close enough to either school to commute?</p>

10

<p>RE: Post #5 While the OP will be eligible for consideration for the Regents’ Scholarship (full tuition) at UNM, the scholarship is competitive and not guaranteed.</p>

<p>[Undergraduate</a> Scholarships :: | The University of New Mexico](<a href=“http://scholarships.unm.edu/scholarships/index.html]Undergraduate”>http://scholarships.unm.edu/scholarships/index.html)</p>

<p>It also requires a separate application.</p>

<p>The OP’s relatively lowish GPA will likely keep from getting the Regents. The Amigo Scholarship will be more likely but the Amigo only reduces the tuition costs to in-state level, although there is a $500 stipend attached. (UNM COA for 2012-13 : $14,830)</p>

<p>He might, however, consider NM Tech for a CS degree.</p>

<p>[Tuition</a> Reduction Scholarships for Non-Residents](<a href=“http://www.nmt.edu/scholarships/183-scholarships-a-tuition-reduction-programs-for-non-residents]Tuition”>http://www.nmt.edu/scholarships/183-scholarships-a-tuition-reduction-programs-for-non-residents)</p>

<p>There are two Colorado resident reciprocity scholarships: one for students with a ACT 27+ and GPA 3.25 (this also gives a $700/year stipend) and another with no specific ACT/GPA requirements.</p>

<p>With either scholarship, NMT costs will be reduced to $11,400/year. (Doesn’t include books and transportation)</p>

<p>With either scholarship, plus a Pell and Stafford, he can cover all his costs.</p>

11

<p>Thanks for all the help everyone. I’ll try to reply and answer in this one post:</p>

<ul>
<li><p>The 3.3 GPA is calculated using all classes. I think if it was calculated using only core classes, it might actually go up. What do colleges usually use?</p></li>
<li><p>I just emailed my counselor to see if I can use summer classes to raise my GPA. I think I can finish this semester with a 3.8ish. Currently have 4 A’s, 2 B’s. I can raise one B to an A with an aced final. Maybe can get an A in the other class if I beg a lot, the teacher likes me. I currently have a 3.3GPA and if I get a 4.0 this semester, I will have like a 3.38. My weighted gpa will be like a 3.45. </p></li>
<li><p>Thanks for the advice mom2collegekids. Colorado has the COF (college opportunity fund).</p></li>
<li><p>Amazhon: that looks very useful. Thanks for the advice.</p></li>
</ul>

<p>Thanks everyone, this was very helpful.</p>

12

<p>Ok, so looking at this website, ( [Undergraduate</a> Tuition | Academic Life | University of Colorado Denver](<a href=“Student Finances”>http://www.ucdenver.edu/student-services/resources/CostsAndFinancing/DenverCampus/StudentBilling/HowMuchDoesItCost/2011_2012Tuition/Pages/UndergraduateTuition.aspx) ), CU Denver’s cost for 15 credit hours, after the 2011 COF subsidy, is about $3,400. I understand correctly, this is per semester. That means that the bare cost for 30 credit hours (2 semesters) is about $7,000. The COF covers a max of 145 credit hours, so if I study for 4 years, each year with 15 credit hours, I will have 120 credit hours. </p>

<p>Now, I live about 30 minutes away from CU Denver, so I can definitely commute there every day. I think I can use the light rail and bus system to get there pretty easily. </p>

<p>That means just the cost for 120 credit hours will be $21,000. What other costs are there? Since I don’t need to factor in room/board, will it really be more expensive? If I approximate books/other fees as being $1,000 each semester, it comes out to $29,000. </p>

<p>Can this can be do-able with grants and other need-based financial aid, or am I missing something? Thanks again.</p>

13

<p>If you commute to a school, yes, you can save a lot of money. Especially if you pack a lunch and a snack and have an inexpensive way to get to school. The tuition alone is reasonable for Colorado. So yes, this venue may be very doable for you.</p>

<p>But commuting can be very expensive. if you don’t have a car and can’t get a reliable ride and there is no mass transit that can get you to college regularly, it can be a problem. </p>

<p>My son has friends who commute to NYU. It costs them $400 each month for rail ticket (train and subway) alone. If they don’t eat breakfast at home, don’t pack a lunch and a snack and bring a water, coffee/tea mug, they can spend a small fortune that way too. DS has a college calendar that let him out earlier than most of his friends, and he has been going into the NYC a few times a week to visit with them and is horrified at how fast his money is dwindling down in his few short weeks home. It’s tough to break that Starbucks and evening pizza habit when all your friends are so indulging. </p>

<p>My friend’s son was commuting to Boulder from Aurora, Co rather than living there, and his costs were up there too. THey bought him a used car, and then there is gas, maintenance, insurance, parking. Plus he tended to spend a 12 hour day there so he would buy at least one meal there a day, sometimes two or more. Plus coffee, soda, snacks. You can see where this is going. &lt;/p>

<p>However, room and board is rather fixed and is far more expensive than commuting. By packing a meal, using free water in a permanent water bottle and being careful, you can save a lot of money. Also if the school is close enough, you may get car pool/ ride share opportunities, or your parents can drive you.</p>

14

<p>Wow, $400 a month? I think I’m a bit luckier here, since Denver has a great local transport system (RTD). They have monthly passes that cover buses, “call-n-ride” transport, and the light rail. I’m not sure which one I will need, but their monthly pass prices vary from $80 to $140. I also may be able to carpool, but thats not for sure. According to Google Maps, the lightrail station closest to me takes 1 28 minute ride, no transfers. So thats perfect. </p>

<p>As for food, I could probably eat breakfast and a late dinner at home, since I’m only about 20 miles for CU. That leaves lunch, lets say $5 a day. Considering a ~80 day semester, thats $3200 for lunch for all four years.</p>

<p>So, taking into consideration the cost for 120 credit hours, $1k a semester for books, and $3200 for lunch, total cost for all 4 years is $32,200. This has been of great help. Are there any other fees I am missing?</p>

<p>Also, to sum up the aid that may help me here:

  1. Pell grant (Max amount is $5000)
  2. CU Financial Aid office (Unknown)
    What else?</p>

<p>Thanks a bunch everyone!!!</p>

15

<p>You’ll also be eigible for federal student loans. $5500 for freshman year; $6500 for sophomore year and $7500 for junior and senior years. A portion of your loan may be subsidized. How much will depend on your EFC.</p>

<p>You may also be eligible for federal work-study or a Perkins loan.</p>

16

<p>If you are a student in a DPS public school, please look into the Denver Scholarship Foundation. They give a tremendous amount of financial assistance and wonderful guidance that can make a big difference for you. They also have close relationships with colleges that can be a help in identifying extra sources of support.
<a href=“https://www.denverscholarship.org/Page.aspx?pid=680[/url]”>https://www.denverscholarship.org/Page.aspx?pid=680&lt;/a&gt;&lt;/p&gt;

<p>It will not help you for freshman year, but if your family now opens a CollegeInvest 529 college savings plan (this is a 529 plan endorsed by the state of Colorado), once you’ve had it open for two years ($125 minimum to open) you’re then eligible for a $2000 a year scholarship. Read the instructions, but this is $2000 of free money per year as of your sophomore year if you open the account before the end of June. (Assuming they don’t change their dates in future years.) It requires that your EFC be $15K or less.
[url=&lt;a href=“CollegeInvest 529 Scholarship | Colorado 529 College Scholarship”&gt;CollegeInvest 529 Scholarship | Colorado 529 College Scholarship]529-Scholarship-Program[/url</a>]</p>

<p>Don’t forget about Metro State as a possible option – tuition and fees are less than a full Pell grant, which should make that practical even if you want to live with other students. (They now have some off-campus dorms, and many students share apartments there too.)</p>

<p>Great that you’re thinking ahead. I think you’ll have some options that are financially feasible for you and your family.</p>

17

<p>I didn’t read the entire thread, but I can tell you from experience that CSU gives pretty hefty financial aid. They paid for nearly all of my expenses my freshman year and gave me work study as well. I also have an EFC of $0. I don’t think CU is as forgiving with Financial Aid, from what I hear. But again, thats just what I’ve heard and those are coming from people with high EFC’s, so you’re situation would likely be different. Best of luck, OP!</p>

18

<p>I think the OP should give it a go. It is very possible that all of his need is met. But it is also possible that it is not. If it is, then all is well. Where the planning needs to be, is in case the money does not come through. Everyone should have a school on the list that is affordable under the worst case scenarios and likely in admissions.</p>