Should I have expected more in aid, or is this about right for Penn State? I don't understand.

For some background, I was planning on attending Penn State University Park (out of state). I understand that it’s one of the most expensive places to go, but I’ve always wanted to go there for my major, but now it seems like due to financials and lack of help I just really can’t. I got my financial aid package from PSU and I am beyond confused - maybe I just assumed I would receive more help than I would be and don’t understand the process, but given my situation, the amount they expect to be taken out in loans for my family income is insane.

My mother is a single mother with two kids, making less than $30k/yr with not very much additional in child support. The FAFSA showed an EFC of 0, rightfully so. And yet, to my surprise, absolutely no help was given outside of the two numbers shown in the email before even receiving my package from PSU - only the maximum Pell Grant and $5,500 in loans. Between non billable and billable expenses, the cost for Fall '20/Spring '21 is estimated to be over $54,000. Less than $12,000 in aid for the same period was offered, leaving more than $42,000 left over.

I understand that financial aid from colleges is only meant to cover a portion of the cost, and you must make arrangements otherwise. However, I didn’t expect to need to pay $42k/yr for a family with an income of under $30k/yr that is already stretched thin. Is this just what I get for choosing to attend there?

State Universities are supported by taxes of their residents. They don’t usually give $ to Out of State Students. You should have run the Net Price Calculator on Penn State’s web site. It would have let you know the bad news in advance. Each school has one.

What is your home state?

Didn’t expect it to be nearly that bad for a family that can contribute nothing, I guess I was very wrong. New York is my home state.

I think that’s why “EFC” is a horrible choice for the number generated by FAFSA. All it’s used for is to indicate Pell eligibility.

Unfortunately, Penn State is too expensive for most OOS students. Do you have any affordable in state options?

Are you near any commutable schools? There are also NYS aid options like Excelsior(?)
@sybbie719

The NYS Excelsior Grant would cover any tuition not covered by the Pell Grant. I don’t know if you can take the TAP Grant instead. That would be more helpful because I think TAP is allied to tuition before the Pell, so you may get more.

Are there any 4 year SUNYs within commuting distance?

I did look into SUNYs because of the financial situation we are in, and two of them look like something I could pursue. Are there any major problems or downsides with choosing to be admitted to a SUNY for a spring 2020 semester over a fall 2020? Not only is it looking better to do that because of my limited time, but the current pandemic makes me unsure about the fall semester anyway.

I have unfortunately managed the whole college finance process very poorly, I was lulled into a false sense of security with the whole idea of “aid” and didn’t fully process that it would be so unmanageable for me. I’ve already given up my deposit, but you live and you learn. I’m exploring my other options, because non billable + billable expenses surpassing 54k, meaning 42k per year after aid, means >150k in loans. That’s not something I’m able or willing to do.

Thanks for the insight, everyone.

If you had used the net price calculator at https://cce.ais.psu.edu/netprice-calculator/ before applying, it would have told you (as a non-Pennsylvania resident with FAFSA EFC = $0) that you would have gotten only $6,195 in grants (the Pell grant that you would get at almost any US university).

Penn State financial aid is not very good even for Pennsylvania residents, so non-Pennsylvania residents should not expect any better.

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I don’t see a downside to waiting a bit before enrolling, especially in these tenuous times. Take a step back, consider your SUNY options carefully, and decide on the best school for you. Talk to their admissions & financial aid offices to determine your best path forward. You will be incredibly grateful when you graduate with little debt. Your life will be so much better than it would be if you borrowed a ridiculous amount to attend Penn State. Best to you.

The SUNY system has a lot of schools. I’m sure there is one you could enjoy.

@sybbie719 is it too late for this student to apply to SUNY schools and receive a TAP or Excelsior award?

Another thought to the OP…do you live close enough to attend a community college and commute from home. I think your Pell Grant of $6000 or so would cover the tuition costs…or very close to it.

" >150k in loans. That’s not something I’m able or willing to do."

You are wise to avoid this. This is definitely too much in loans.

You have some great public universities in-state in New York. I do not see any problem with waiting for spring admission, or even taking a gap year and starting in September of 2021. The pandemic should be over by then (I hope) and life will have returned to normalcy.

Another option is to take two years at a community college near home, and transfer to an in-state public university for the last two years of your bachelor’s degree. One friend of a daughter did this due to a financial situation similar to yours (but in a different state) and it has worked out well for her.

I think that I would be tempted to call admissions at a public university (CUNY or SUNY) near where you live, tell them your situation, and see what they suggest. Tell them that you are thinking of taking a gap semester or a gap year or starting at community college, have very restricted financial resources, and see what they suggest.

OP, you need ti talk to your counselor like yesterday. S/he should be able to tell you which SUNY has seats and who still has EOP seats. I had one kid get into purchase EOP 2 weeks ago and another one get into Fredonia a week ago.

OP would be eligible for Full TAP $5165 and Full Pell

there may even be some schools a (smaller LAs) that will have HEOP sets…

what are your stats ? Are you in NYC? if yes, i do not understand why you did not apply to CUNY. If your family makes 30K there are literally over 100 colleges/universities in NYS where you would have been eligible to for an opportunity ptogram (SEEK, EOP, HEOP)

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As FYI , just so you know , YOU could not have taken out enough loans to go to Penn State, your mom could perhaps but as a student you could not borrow that much nor should you be able to. Penn State gives very little "aid " to OOS students, Good luck where you end up.

If your stats are good enough maybe look at Questbridge? It’s very competitive but worth a shot. Maybe a gap year to re-evaluate costs and your odds along with a better balance of schools?

https://www.questbridge.org/high-school-students/national-college-match/finalist-profile

@wearepsu18, many years ago I applied to colleges as a New York state resident. I whittled my list down to 11 schools, including colleges in New England and other mid-Atlantic states. Ultimately, I reduced my list to NY state colleges because 1. I came from a large, low-income family and 2. My home state offered me TAP, a Regents scholarship, and other great aid. 3. NY state has several great colleges.

I am very sorry you have discovered at such a late date that you and your family cannot afford Penn State, which provides notoriously poor aid for out-of-state students and not-so-great aid for in-state students. Like others have said, I would regroup and apply to SUNYs which provide a strong program in a major connected to your desired academic focus. Look closely at the campus, resources for students like you, and the student body.

I know this is a hard time for you. I remember receiving inadequate feedback from counselors and parents. You come across as mature and open to suggestions, so I believe you will bounce back and make a good choice.

Wishing you the absolute best.

op is now too late for QuestBridge. this would have had to been done last.

I cannot think of anything that Penn State has to offer that is not also available in the vast and excellent SUNY system, for which you are in state. I hope you applied to SUNY schools, too, and hope you got better aid for them.

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Penn State’s tuition is lower for instate students, of course, but institutional aid (aid given by Penn State University as opposed to federal or state aid) is virtually nil for most students and no better for instate students than for out of state students. We are an instate 0 EFC family and I wouldn’t allow my daughter to apply there because there was no way we could afford it without hefty parent or co-signed loans.

@wearepsu18 I’m impressed by your adaptability and good sense and wish you the best wherever and whenever you matriculate.

For next year. Take a gap year.

http://talk.qa.collegeconfidential.com/student-here-ask-me-anything/2189370-daca-recipient-got-into-uic-after-a-gap-year-ask-me-anything.html