UCSB True Costs - Help Please

[pattyishere]

<p>I posted this on the Financial Aid Forum but am reposting here also, hope thats okay.</p>

<p>Here is the unofficial financial aid award son received:</p>

<p>Total UCSB Cost Estimate $33110
Tuition Estimate $12924
Student Services Fee $1483
Health Care $1395
Room & Board (On-Campus) $13275
Personal Expenses $1462
Transportation $838
Telephone $305
Books & Supplies $1428
Minus Unofficial Grants and Scholarships - $12924
Equals Unofficial Net Cost = $20186
Minus Stafford Loans= 5,500
GAP =$14,686</p>

<p>Between family members and myself we can contribute $10,000, that leaves balance of 4,686. </p>

<p>I know some of the expenses above are estimates, can someone give me a more accurate figure on the GAP of $14,686? </p>

<p>Then going to need to decide how to fill that GAP. Parent Plus, Private, Equity Line or take loan from Employer 401k/Pension. Any and all suggestions appreciated.</p>

[StyxxNStones]

<p>Just a suggestion: You can easily cut down room and board to about only $10.7K if your son rooms in a triple on campus. Although the dorms are usually quite small, rooming with one extra student gives your the benefit of knowing another person right off the bat, with the cons of a more crowded space.</p>

<p>Also, remember that Stafford Loans are what they are: loans. You have to pay them back one day or another in the future. If you don’t want to take loans, add the $5,500 back to your GAP.</p>

[pattyishere]

<p>Feeling blessed, son just got his first job will be working 20 hours a week for now at $8hr, should be able to increase hours once he graduates in June. That gap just got a little smaller.</p>

<p>Styxx, thank you for that great suggestion :)</p>