<p>So background is my parents own a couple businesses, and not to sound like I'm boasting, but make a huge sum of money per year. Even then though my parents seriously don't want to spend $62k per year on tuition (who would want to pay that). My dad wants to say he only makes a quarter of his salary on the CSS Profile and FAFSA so I could be open for more scholarships and grants. Should he really do that though? And are USC Merit Scholarships partially need/income-based?</p>
<p>Is he planning to also falsify his tax returns? Tax information must be submitted to USC as part of a financial aid application.</p>
<p>The FAFSA is a FEDERAL application for FEDERAL student aid.
Are you expecting that someone would say that fraud is a good idea? Good for you for questioning the wisdom of it - NO, he really should NOT do that.
No, USC Merit scholarships are not need or income based. They are MERIT based. As proof, please consider that merit scholarship interview invitations are sent BEFORE the financial aid deadlines.</p>
<p>Again, attempting to defraud the US federal government and USC is NOT a good idea.</p>
<p>Good luck.</p>
<p>There is a difference between “don’t want to spend $62K” and “can’t afford $62K” It isn’t the job of a university to subsidize a family lifestyle. I ran into this a few years ago at an admitted student’s reception where the father didn’t fill out FAFSA at all (ran a small business) in the hopes he didn’t have to reveal his income.</p>
<p>Here’s the deal - and you should know this up front. USC looks at the FAFSA and the CSS. They also require parents to sign a form authorizing them to pull the income figures directly from the IRS. They DO audit families on occasion. In addition, you’ll be required to upload one to two years of signed tax returns complete with schedules as part of the CSS process. Those will be compared to actual tax returns on file with the IRS. </p>
<p>So - in summary, your father is going to attempt something that’s been tried before that’s why there is are checks and balances in place to prevent it (or to uncover it.) Your home, your cars, etc. are all a matter of public record. And he’ll be prosecuted for fraud, especially if he does it on the FAFSA.</p>
<p>For the record - there are a number of students attending USC whose parents make very little in comparison and still have a huge bill to face. USC is a very expensive school for most of the students in attendance. It’s just part of the reality. So even if your income were truly lower, you’re not likely going to be looking at a lot of financial aid to meet your comfort level. IMHO.</p>
<p>There are 4 ways for relatively wealthy families to send their sons/daughters to college, from most to least expensive:</p>
<p>1) pay full tuition to private college/university
2) pay full tuition to public 4 years state U or (less expensive) 2 years community college + 2 years state U
3) ROTC / US military academies / Cooper-Union / Olin / or other full or partially subsidized universities/programs
4) student earns merit awards based on GPA/rank/ NMF/SAT scores and/or other supplements and competitions</p>
<p>Alert your parents that all university financial aid offices are particularly careful when evaluating self-owned businesses, alert for the sort of fraud mentioned above.</p>
<p>Agree with all responses above. Will add, if you want some reality, use the net price calculator and see how little you have to have and to make to qualify for aid. I kept adjusting figures and was shocked at the numbers it takes to qualify. Of course there are other variables in the end, but it will give you a good picture. My guess is even taking your dad’s salary down to 25% and owing the full value of your home wouldn’t do it. It will open your eyes to the people who are getting aid and need it. Be thankful you do not. </p>
<p>USC is very expensive, each person/family has to decide if it offers the value for the price paid. Some will borrow none, some will borrow all to go there. Both are ok if they are ok for that person/family. That is a very personal and individual decision. But committing fraud to go there, no one should do that. It’s a great school, but there are a lot of great schools, and some cost much less money. That may be the way to go.</p>
<p>Our S got merit awards from USC for all 4 years he attended (they were offered when he was accepted, with ability to have them renewed for the next 3 years). We NEVER submitted ANY financial info to the U and none of his awards considered any of our or son’s assets or income. That is the only way to HONESTLY get merit awards. </p>
<p>Awards based on financial needs require ACCURATE financial information to be submitted. Falsifying financial information is fraud and a criminal offense with LOTS of VERY BAD consequences. Please do NOT go down this path.</p>
<p>Will issue a warning about the Net Price Calculator. It is wildly unreliable and on two different occasions (Preview Day forum Q&A and private consultations on a subsequent visit) the Financial Aid Officers confirmed that it was usually “off”. We put in accurate numbers including assets, equity, another kid in college, etc. and the “financial aid” projected was double the actual awarded amount. So take it with a grain of salt. Some people may come close, but from reading these threads many more don’t. We’re currently consoling the family of a classmate (high grades and scores) who is entering in the spring, has significantly fewer assets, and the “weight” of the tuition is an even bigger burden. USC is unabashedly unapologetic about their costs . But frankly, based on our limited experience, our kid is getting a lot of value for it. But like many, it means deferring retirement savings and/or taking out loans. If you have a business, you’ve got an asset - a big one and it is fair game for USC calculations in a way that it may not be at another school. That may be why so many students are accepted but so few of that number finally enroll. The costs are insurmountable for most.</p>
<p>Which is why I advise new applicants - start by assuming you’ll be a full-pay so that any award you get will feel like a bonus. It lessens the shock when reality sets in. :)</p>
<p>The cost of an elite private college education is expensive…very expensive. USC is one of many private colleges that now have a cost of attendance of over $60,000 per year. That includes tuition, room, board, books, fees, transportation and miscellaneous costs. According to CBS Money Watch the cost of a private college education since 1982 has increased 167%. The cost of a public college education has increased a whopping 257%.</p>
<p>I checked various sites to compile a list of representative colleges that all have a cost of attendance over $60,000: (Partial list) Undergraduate*</p>
<p>NYU
Harvey Mudd
Bard
Rensselaer PI
Wesleyan
Dartmouth
Univ. of Chicago
Bard at Simon’s Rock
Vassar</p>
<p>*Some colleges have much higher fees for certain majors in the sciences or engineering.</p>
<p>Ninja4hire,</p>
<p>We will be writing checks for our daughter’s tuition. We don’t WANT to write checks for $63k. Nobody wants to write checks for that much. But if your parents, and your dad specifically, can afford it, you write the check instead of trying to cheat the system. If you have been blessed, you pay your taxes, pay your tuition, and be thankful for the wealth you have.</p>
<p>What type of message does your dad think he is sending you? What does this reveal about his character that he would try to take financial aid from a school that has real students with real needs?</p>
<p>At sometime in our teens, kids learn that our parents aren’t perfect. I’m really sorry you are learning a painful truth about your dad’s character.</p>
<p>As others have pointed out, the sticker price is never what you really pay. Even if it is, USC is an amazing school with school spirit that only grows stronger after you graduate. </p>
<p>There’s a reason we say “Trojans for Life”.</p>
<p>Do the right thing, and Fight On!</p>
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<p>We were full pay for D but happy to get 1/2 tuition merit award for S at USC. It was a worthwhile investment by us in our kids and both were able to have many opportunities they wouldn’t have otherwise due to their USC educations. </p>
<p>For US, it was well worth the funds we invested. We never submitted any financial data or tried gaming the system. </p>
<p>There a LOT of axing opportunities for students on campus.</p>
<p>@wherezwallace, he’s not a bad person… He just tries to find ways to make things easier sometimes, which is funny because as a doctor and business owner you’d think he’d already know not to try to cheat the system. But I can see your point, so thank you. Thanks to everyone else’s responses as well. I showed him all the replies and agrees that it isn’t a wise plan</p>
<p>wherezwallace,
Instead of writing a check put the tuition on a credit card and then pay off the balance when it comes. Every semester we get 25,000 miles (enough for one super-saver ticket). USC does not charge a fee to do this. </p>
<p>(We do not really like to pay the bills either but it was a choice we made and I try to remind myself we are lucky to be able to do it)</p>