It’s certainly possible, but I’m not entirely sure. Once I hear from all of the schools I applied to, we will have to sit down with my parent’s financial advisor as to what they can afford to loan me, considering they will also already be spending $8,000 per year out of savings.
And yeah I’ve already visited Penn State, I do like it a lot, but the only real hang up for me is that I come from a small town in PA, I’m not sure I want to spend another four years in a small town in PA. If it ends up that UMN is comparable in price, I’m leaning toward UMN, but I will have to visit before I make up my mind.
Not retired, homes in our area are cheap no matter how big, as they say “location, location, location” (It’s an eight bedroom, five bath house). Also when I say EFC, I’m just trying to differentiate between their college fund savings for me, which is at $36,000, hence the $8,000 per year, and any money they would be loaning me. Finally, I didn’t mean to make it sound like my parents are high roller investors because they have an FA, they speak with him maybe 3-4 times per year, and one of those times is for taxes. He just provides general guidance from time to time, and is a family friend.
So wait, your parents 8K contribution number isn’t an EFC, just what they have saved? What is your FAFSA EFC and what do the NPCs look like? Again, you are expecting actual financial aid from OOS publics?
Did you run the net price calculator on each school website? Your FAFSA EFC is meaningless in terms of what schools will actually give you in terms of aid. Generally public universities do NOT give aid to OOS students. They, after all, are funded by the taxpayers of the state residents. Why should they give need based aid to out of state students whose parents have not paid tax dollars to support the school? There are a few exceptions, but they aren’t the schools you listed. A few public universities give some merit to OOS student. But I know UT-Austin isn’t one (although I think from what you’ve said about your stats, you aren’t very likely to get in there anyway).
Before you go and insult people giving you advice, make sure your own ducks are in a row. I’d be surprised if you get need based aid from any of these. Your calculation makes it look like you think your EFC is somehow money coming to you. That is money you are expected to pay – but as I said above, if it is from FAFSA, it means nothing. FAFSA just shows whether you are Pell eligible and is needed to apply for your federal loans. The EFC isn’t anything individual schools need to abide by.
No, I’m not expecting money from UMN or Texas, or at least certainly not any financial aid. I understand UMN gives a decent amount of merit scholarships, and am optimistic about that, but as I said I’ve basically ruled Texas out. And yes I’m aware the EFC on my FAFSA is basically just an arbitrary number that the gov. estimates my family can afford to pay. I was just quoting mine at 8,000 because that’s what my family can actually afford to pay out of savings (not counting equity from house). I think my actual EFC is around $12,500, so I’m really not expecting much from PSU either.
Also just curious, why do you say it’s doubtful I get into Texas? Their middle 50% SAT for OOS is 1250 – 1440. I get that CSE is always a bit harder to get into for any school, but would a 1460 really be doubtful? I admittedly goofed up a bit applying to UT. When you look up UT OOS tuition on google it quotes you $18,000, but little did I know that was $18,000 a semester. Always read the fine print I suppose
University of Texas admits about 3/4 of its class from Texas residents in the top 7% or 6% of their classes. These applicants have a 100% admission rate (and many of these applicants do not have very high test scores). Everyone else competes for the remaining 1/4 of the class, with probably around a 15% admission rate.
In addition, the CS major is additionally competitive, so you may not get into the major even if you get into the school.
Just checking, so you have a confirmed scholarship that totals $18,000 over 4 years? Or is it just for freshman year? One thing we see out here is students who can afford the first year of school, but don’t really have a plan to pay for four years. They often end up (painfully) transferring someplace cheaper a year or two in.
The OP is a PA resident, so Penn State is in-state. Although they don’t tend to give very good aid. Odds are it will still be the most affordable option.
Chemical engineering is a more difficult field to get your foot in the door than other majors. You might want to minor in CS just in case. Of the three schools, UT would be the best choice, since it’s the top engineering school in Texas and most of the petrochemical jobs can be found here. It’s a good choice if you can afford it.
