my son didn’t get financial aid package yet, and I don’t know anything but that we did fafsa thing. so I want to know how much we will have to pay.
these are our numbers;
from new York with only kid(who is admitted)
annual income:93k
savings:27k
fafsa estimated our efc 15300.
then we should pay about 43k(58300(coa)-15300(efc)), which is included my son’s loans?
anybody please?
where else did he get in? and what is he planning on studying?
UCLA is a great school but is it is not a good idea to go in debt to that extent for college.
ucla computer science. and cmu melon of science
better wait for your FA package but I’ll bet its better at CMU.
If so thats where he should go.
The UCs will generally expect you (the parents) to pay your FAFSA EFC plus the OOS fee of about $23,000. Your student will be expected to take the full direct loan ($5500 for a freshman) and work study for a self help total of around $8,000. Remaining costs would be covered by grants.
Go to the UCLA website and run the net price calculator to get a best estimate for your particular financial situation.
Your family contribution at UCLA is likely going to be higher than you are thinking. UCLA is not going to go by your FAFSA EFC. They are admitting OOS students to generate revenue. My D was admitted OOS a couple of years ago. She got a $5000 merit scholarship discount off of the full OOS sticker price. Be prepared to spend at least $50,000 per year for UCLA.
I happened to look into this site a few days ago and I still don’t know what all those efcs are for.
Anyway, I ran the calculator.
grant was like 8k.
So now I understand we have to pay about 50k(coa 58770-grant 8k) a year.
CMU’s summary was
coa-66k
grant-15500
so,both look the same.
we have a only child. so we were prepared to pay about 40k a year, but these numbers are ridiculous!
You are out of state for any public California schools, what did you expect?
Did you try their NPC?
“They are admitting OOS students to generate revenue”
Calif taxpayers support the UC system colleges with the taxes they pay every year.
. OOS parents have contributed nothing to support the UC’s.
So I have to agree- what did you expect?
My understanding is that the UCs will expect you to pay the $23,000 differential between in and out of state costs, plus your EFC of $15,300, plus a student contribution. At LEAST. So minimally, you will be paying over $40,000 a year.
Your son will get a $5500 Dorect Loan.
I would be very surprised if he received any other aid from UCLA.
Will you have two students in college next year? Because a $15,000 FAFSA EFC sounds low for one in college with an income over $90,000 a year.
We are prepared for whatever we are expected to pay because he is the only child. We are very happy he got into ucla or Carnegie melon.
I just wanted to know 40k , 50k, or full price.
Now it seems clear, around 50K after running the net price calculator(which I didn’t know about).
thank you all for your replies.