Expected Family Contribution (EFC):$58,364 EFC - This figure is calculated by the FAFSA and is one criterion used to establish your aid eligibility. It is not meant to reflect your actual cost of attending UCSB. See “My Net Cost” on Page 2, for a breakdown of your actual educational costs. View Your Financial Aid Shopping Sheet
Awards
Unofficial Grants and Scholarships$0
Unofficial Loan Eligibility $36,180
—Direct Loan Unsubsidized$5,500
—Parent PLUS Loan $30,680
Unofficial Total Aid$36,180
So basically I’m wondering, as far as loans are concerned, is there interest in terms of paying it back? Thanks
Yes I’m sure my parents have no intention of borrowing that much. I go to a private HS that is about 19-20K per year so I am sure they can afford to pay 20k and a little bit more. I will have a discussion with them going forward of how much they can pay up front and how much do they need to borrow. @mom2collegekids
COA for UCSB must be similar to UCSD which is approx. $31,000. Your parent’s EFC is more than the COA (Tuition + room &board) Seems to me that you as the student can take out about $6,500 in loans for your freshman year and then their would be the balance of approx. $25,000 that would still need to be paid.
Oh it just occurred to me: are you an in state or out of state student?
I know at UCSD, they allow you to make monthly payments so for each quarter, 3 monthly payments and the tuition payment is paid separately from the room & board payment. This helps me to look at what is due in these smaller, incremental payments vs the entire lump sum of $31K…still it is a very big ouch.