<p>Hey board. I was just wondering what you guys think is a reasonable amount to pay (per year) for a college if my parents make $80,000 and have an EFC of about $9,700. They said they should be able to pay about $7,000 which leaves me with the rest. Are they paying too little? Could they pay more? I just don't know. I know that every situation is different but based on this info, could you guys let me know what you think is a "reasonable" amount, that'd be great!</p>
<p>*Are they paying too little? Could they pay more? I just don’t know. *</p>
<p>Hi Dante! </p>
<p>There’s really no way any of us can know if your parents could pay more or not. We don’t know their situation or how many kids they need to put thru college. </p>
<p>The fact that they are going to contribute at all needs to be seen as a gift since parents really aren’t under any obligation to pay anything.</p>
<p>$7k per year times 4 years is $28k…that’s not a small amount of money. That’s over $500 per month for 4 years. It’s not easy for many families to come up with an extra $500 per month to put towards college. </p>
<p>So…now…to find you colleges that will work. :)</p>
<p>What state are you in?</p>
<p>What is your likely major?</p>
<p>What are your stats?</p>
<p>What else do you want in a college?</p>
<p>Any amount your parents are willing to pay is the “right” amount. Thank them, and then find a school that works for you. If you can provide the answers to the questions above, you will get great ideas for colleges from the fine folks who frequent this forum!</p>
<p>As Kelsmom states, any amount is to be appreciated. The EFC is generated by FAFSA is a composite figure that may not apply to any family. Other than for PELL eligibility, it doesn’t guarantee you anything and you are above the PELL mark. </p>
<p>The challenge is finding college options with what your parents and you can afford.</p>
<p>Dante - it’s a good thing that your parents figured out what they can actually afford. The EFC leaves out some important factors, and there is no guarantee a particular family can actually meet the EFC.</p>
<p>They are probably feeling a little bad about it.</p>
<p>If you are in a populated area, there should be public school / commuter options that fit within the $7K. Please think twice or three times before incurring a lot of debt.</p>
<p>Hey guys…thanks so much for the feedback! You’re so right. ANY amount of money that my parents are willing to give is GREAT! I shouldn’t make them feel bad about it. SO right! Here are the answers to those questions</p>
<p>What state are you in?
I am in Wisconsin, but I applied to all out of state schools, some state schools but majority private. </p>
<p>What is your likely major?
I REALLY want to go into Screenwriting, but I’ll settle for “Creative Writing” or some major similar to Screenwriting if I can’t afford to go to the schools that offer Screenwriting.</p>
<p>What are your stats?
I have a GPA of 3.6 and my ACT is a 27. I’m an “average” student unfortunately but I have AMAZING recommendations and ALOT of extra co.</p>
<p>What else do you want in a college?
For college, I want to have fun! I know that sounds corny but I want some place warm and big! Some place with athletics and a good student body!</p>
<p>Here are the colleges I applied to</p>
<p>Michigan State University (They gave me only $4,500 a year as full tution is about $30,000)
Chapman University (in Orange, CA) (They gave me $23,000 a year, leaving me with $28,000 a year)
Loyola University in New Orleans (They gave me $23,500 a year, leaving me with about $17,000 after Work Study which is do-able…your thoughts?)
Florida State University (I heard nothing back but do they give good aid? I’d LOVE to go here!)
Loyola Marymount University (in LA)
DePaul University (in Chicago)
University of Southern California (my number 1 but FAR FAR REACH school)
Emerson College
The University of Iowa
Purdue University</p>
<p>What are your thoughts on these colleges? Which give good aid? Which don’t? Which would you recommend me going to (financial aid-wise) </p>
<p>ANY feedback would be great!!!</p>
<p>Usually OOS publics are not a good bet financially, since their first responsibility is to the children of the taxpayers of their state. Some have good merit aid, but you may not be in a position to receive such good merit aid. MSU is out, and Purdue will probably be, as well. </p>
<p>As for LU in NOLA, if your shortfall is $17k after work study, it is more … because work study cannot be deducted from your tuition bill, and you don’t know that you will actually earn your full award. Consider work study spending money at best. How will you come up with the $10k+ that you need?</p>
<p>For LU in NOLA I got an $18,500 scholarship and a $6,500 grant on top of that. The COA is about $44,000 and the Work Study is $2,000. When we discussed it we decided that I would take out $8,000 worth of loans and they would cover the rest. What are your thoughts on this plan?</p>
<p>I figured that MSU was out, what are your thoughts on FSU? I doubt I’ll get anything.</p>
<p>Who is “we” and “they”? And how would “they” cover the rest? </p>
<p>Until you get the award letters, it’s impossible to accurately predict what you will be getting. The choices of school that you have listed are not ones that are likely to give generous financial aid, other than possibly USC, but that doesn’t mean that no one gets a full need met package. Have you decided what you would do if none of the schools meet your needs? Do you have a fall back school, perhaps a local state school that is affordable?</p>
<p>You won’t get much from FSU.</p>
<p>*Chapman University (in Orange, CA) (They gave me $23,000 a year, leaving me with $28,000 a year)
*</p>
<p>Hmmm…your EFC is less than $10k. Isn’t Chapman U a FAFSA-only school and meets need (I think that is their claim)? If so, you should have gotten more aid there. Have you spoken to them?</p>
<p>did you apply to any instate publics?</p>
<p>We as in my parents and I and “they” as in my parents. </p>
<p>They would cover the rest (which is about $9,000) by paying for it (I don’t know how. I didn’t ask but they said that they were able to cover that much even though they originally said they’d only cover $7,000)</p>
<p>I think that Loyola New Orleans would be my “fall back”. IF worst comes to worse, I could apply to a UW school and be able to afford that. They are still accepting applications until July but I don’t think that will need to happen because it seems like Loyola New Orleans will work out. Does it Loyola New Orleans seem reasonable?</p>
<p>Have you applied to any public colleges in Wisconsin?</p>
<p>Does Wisconsin have tuition exchanges with other states?</p>
<p>I suggest going instate and then going to grad school at USC in their MFA program. Major in English undergrad with an emphasis in CW or Cinema, perhaps.</p>
<p>And your parents totally rock for informing you upfront what they can contribute. It is very generous.</p>
<p>$8,000 a year in loans totals to $32,000 in debt. Not sky-high, but still more than I would recommend.</p>
<p>A concern I would have for any family is if they can afford the cost. At this stage of the game, you have pretty much picked your options. If they seem doable, give it a try for the year, but keep options open for lower cost opportunities.</p>
<p>I would be concerned taking out loans with your choice of major. There’s not much that one can do with a screenwriting major, other than write, and that is really hard to make tons of money in right out. Loans have to be paid back, often with interest. I’m wondering why you didn’t apply to any schools in Wisconsin?</p>
<p>I applied to UW-Milwaukee as a financial safety. I REALLY want to get out of Wisconsin, that is why I didn’t apply to any other Wisconsin schools. I’m SO sick of it that I just HAVE to get out! I love my parents and I am very grateful to them for offering to pay that much! I’m just all over the place right now! I just feel like no matter what I do, I’ll make the biggest mistake ever.</p>
<p>Dante…</p>
<p>It’s very hard to make it in screenwriting, so chances are, after you graduate you’ll have to take an unrelated job just to pay on your loans…leaving little time to pursue your career.</p>
<p>You need to contact Chapman U and find out why they gave you so little. That school “meets need” and only uses FAFSA (I think), so you should have gotten more money from them.</p>
<p>I’m fine having to work for a little to make it. I know I’m not going to get a job right out the gate. Lol. But I want to achieve it eventually… and I’m going to call them tomorrow when they are in and ask them what’s up. Here is the breakdown of what Chapman gave me:</p>
<p>$23,000 of Grant
$3,000 Federal Work Study
$5,550 Loans (mixture of Stafford loans)
$4,000 Parent PLUS loan
TOTAL AID= $35,500 but a HUGE portion of that is LOANS. Total COA is $51,000</p>
<p>What should I say when I call them?</p>
<p>Give them Loyola’s work up and ask if they can match or beat it.</p>
<p>Technically both Loyola and Chapman are giving the same $$, but Loyola’s COA is about $44,000 while Chapman’s is about $51,000, which is why Loyola is more affordable. Thats practically a $10,000 difference.</p>