<p>Recently I got into UCLA as a Pre-History Major with a a 3.8 GPA. I didn't bother applying for FA because of a few reasons that made me believe they would deny me. My parents combined income was over 6 figures, I own a rental property and work 40 hours a week(This will come to an end when the fall quarter begins). I really do not want to take out a bunch of student loans, if it is my last option, then so be it, I have to do what I have to do. So, will Pell Grants, and Scholarships my only bet? Thank you. </p>
<p>How will you get Pell Grants with parents’ combined income over 6 figures?</p>
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<p>You are not eligible for Pell grants or Cal grants (if you are a California resident). </p>
<p>You will most likely be a full pay student at UCLA and they will look to you and your parents to pay or borrow the money for you to attend.</p>
<p>No clue, all of this FA and Grants is fairly new to me. I have always paid my CC tuition out of my own pocket and never applied for FA. So since, any type of grant appears out of the picture, then scholarships appear my only shot?</p>
<p>Are you planning to enroll at UCLA in the fall? If so, where exactly do you plan to get scholarships that will cover your full cost of attendance?</p>
<p>And just curious…what is a “pre history major”?</p>
<p>Ask your parents what they are willing to contribute to your college education.
Then determine what they are willing to pay vs. what they would like you to pay back - thus a loan from your parents.
Determine how much you have saved up from your 40 hour / week job.
If you own rental property, then it will continue to generate income, I imagine.
Is living at home an option?
Other options to consider may be a community college if the above does not add up. There is only so much in loans you can get as an incoming Freshman. I think it is $5500.
Get a campus job during the school year. </p>
<p>@thumper1</p>
<p>I am not asking for a full cost of attendance. I received an e-mail from the UCLA Alumni Scholarship(Which I believe most people received). It’s 2K per year, 4K in total. I also found this site, which I am looking into that has various scholarship for transfer student.</p>
<p><a href=“http://www.ugeducation.ucla.edu/src/due/Transfer.html”>http://www.ugeducation.ucla.edu/src/due/Transfer.html</a></p>
<p>As for the Pre-History, it is History, but I need to take 3 lower division courses, then petition to department to receive “full major status”. </p>
<p>So are you saying your family can pay $27,000 a year or so for you to attend UCLA?</p>
<p>It is long past time to apply for scholarships. Sounds like you are full pay so anything with a need based component won’t apply. You get a 7,500 loan if you are entering as a junior. The rest is up to you. Savings, current income, sale of assets or loans if you qualify, parent plus loans if you don’t. I take it you are under 24 and so a dependent of your parents?</p>
<p>@BrownParent </p>
<p>I do not believe it is long past to apply, some of these scholarships have a deadline until end of June. UCLA Alumni Scholarship is May 2nd. </p>
<p><a href=“http://www.ugeducation.ucla.edu/src/due/Transfer.html”>http://www.ugeducation.ucla.edu/src/due/Transfer.html</a></p>
<p>@thumper1 </p>
<p>When did I say my family can pay 27k a year? Just because I said combined income is over 6 figures does not mean, that I make over 6 figures a year. </p>
<p>@lots2do </p>
<p>I am entering as a Junior from a CC, I live fairly close to UCLA, so I will be living at home. Personally, I do not want to ask my parents for income. Nor do I believe they will be in a position to do so. Mortgage, 3 cars, and other expenses. They have given me room and board and never asked for any rent(Nor will they ever), I have basically taken care of my self in the aspect of working and paying for my own expenses. Kinda sucks though, it appears my parents generate too much money for me to qualify for any type of FA and Grants, when I have never asked for a dime from the state or government. </p>
<p>Student loans it is. </p>
<p>You will be permitted to borrow $7500 for student loans, but you will have to file FAFSA and your parents will have to fill out their section of it for you to get it. Any other loans YOU get will likely have to involve your parents cosigning or applying and getting turned down, though you can try private loans on your own. </p>
<p>As for scholarships, look on Fastweb and other sites. Ask at UCLA ,and look for some local awards too. But the pickings are likely very slim as it is late. If you’ve never borrowed, if you are real quick about it, you can also file a 2013 FAFSA and borrow $6500 for this year, which if you are paid in full, you’ll get back from your CC, and you can then use that towards your junior year cost. That brings the amount up a little bit more. But seriously, a young person your age, an unsecured loan, not good prospects through anything else. If your parents get turned down by PLUS you get about $4-5K more, but if they are up on their bills, they’ll get those loans approved. Co signed private loans usually have less flexibility, harsher terms and worse rates, by the way, than the PLUS. Better your parents take the loan and you sign a note to pay them back.</p>
<p>@cptofthehouse</p>
<p>Thank you, you were quite informative. I had a question, if you did not mind. I own a rental property, and have a car under my name and co-signed for another, will these hurt my chances? I do work 40 hours a week. </p>
<p>Just wondering, what did you mean by this? “you’ll get back from your CC, and you can then use that towards your junior year cost”</p>
<p>I am done with CC’s, my last term was in the Fall. I have been basically working since then. </p>
<p>When you fill out the FAFSA, yes, your rental property if in your name will be reportable as an asset, and the rent you get is reportable as income to you. You are permitted up to about $6000 (you have to look up the exact amount) in income, before 50% is assessed on it as an dependent student. All assets are hit up at 20%. If the property has a mortgage, that is subtracted from its value, and you can use a quick sale net value for the property. If you are independent, different rules apply. You are considered independent if you are over 24, married, have a dependent, are a veteran of the armed forces, or a ward of the state or officially homeless. Do look up everything I have told you, as you really need to know these things cold, and not take a post on the internet as gospel.</p>
<p>If you are not independent, your parents’ info has to be included on the FAFSA. Both you and a parent need PINs to fill out the FAFSA, so apply right away, to get started with the process. The process will verify your info and your parents’ direct from IRS forms and the info has to jive. </p>
<p>It does not look good for fin aid for you, but the Direct Loans of $6500 for 2013 (you have to move fast to get that) and $7500 are automatic if you are a US citizen or permanent resident, have signed up for Selective Service (if male), and don’t have drug type convictions. Income , assets or credit rating are not an issue for the loans. The Direct student loans are a little under 4% in interest, and repayment has to start 6 months after you are no longer a full time student. </p>
<p>So, no, for the loans your assets, income, your parents’ as well won’t affect them. They are pretty much entitlements. For other amounts, it depends on your EFC (Expected Family Contribution) and you can use an estimator to see what that number is. Pretty much that is the least you can expect to have to pay before getting a dime of subsidized loans (which the 4% Direct is not unless you qualify), Work Study or other federal money. California has some funds too but your family income has to be under a threshhold too, Look it up just in case you qualify in future years I think you missed this years deadline. </p>
<p>I’m asking if your parents can contribute towards the cost of attendance at UCLA. </p>
<p>Do you, the student, own the rental property? Yes, the equity in this will be included as an asset on your financial aid application forms. The income from the rents is also included. There is a schedule you complete for your taxes that the school will expect to see as well.</p>
<p>I agree with the above poster. If you have t applied for a Direct Loan for this school year, you can still do so. You can then use it for next year’s costs. </p>
<p>Your full time income, along with that of your parents, will probably put you out of the running for need based aid. </p>
<p>For scholarships, I agree that the best awards are likely not still available. But do pursue anything you can and especially for UCLA itself. </p>
<p>Are your parents contributing at all towards your college costs?</p>
<p>Umm. I 'm not sure if you can do the retro loan in your case. Let me give you an example. My son is currently in school. He took out zero loans this year. If he decides he needs extra money next year because, say he’s transferring to a more expensive school, he can apply for a Direct loan by filing a 2013 FAFSA and then applying for a direct loan in the amount of $6500 as he is a junior this year. Because he is paid up at his school for this school year, the money will go to his school account and then he can get a check for the full amount of $6500. </p>
<p>Maybe you can do the same, and get $3250 for the fall term, since the deadline is , I believe, June, to get reimbursed for costs incurred in the Fall term since you did not go to school this spring. I am not sure if this is allowed–PM Kelsmom and ask and then ask the fin aid office at the Comm college, though if you don’t get someone in the know, you may not get the right answers as this is not an orthodox thing to do, though it may be perfectly legal. The money will go to your comm college bursar, and then you ask them to send a check to you since you are all done and paid up there. Had you been going this spring, you would have been able to get the full $6500. The interest starts on the loan when it is disbursed. If you can take summer courses at UCLA, you MIGHT be able to get some of the 2013 money for that., the rest of the $3250, but again, you have to check. Most schools attach the summer to the prior year. </p>
<p>You also need to complete the 2014 FAFSA with parent and your info (if dependent) to get the $7500 for the upcoming year at UCLA, but I thing you have to wait till June to do it, not sure–MPR (master promissory note is only good for so many days when you sign for a loan) You get, with jr standing $$3750 per semester in loan money that goes to the bursar’s office and will go towards your tution/fees. and other direct billed items. </p>
<p>@cptofthehouse</p>
<p>Wonderful information. I am over 24, the lease of my property is ending less than a couple of weeks, and my current tenant has not re-upped on it. I was going to spend time in the next few days and put a listing on it, but I also thought about moving in, since right now, my parents house is 25 minutes away from UCLA, my property is about 15-20 minutes. I need to decide on that aspect of either living at home or going into my property.</p>
<p>@thumper1, my apologize if I can off a bit harsh. No, my parents do not help me with any part of my college costs. </p>
<p>The numbers and formulas are different for an INDEPENDENT STUDENT as you are. You need to do an EFC estimate for yourself. You can borrow, I believe $10500 as a sophomore, and $12500 as junior and as a senior as an independent student. Interest rate, a bit under 4%, no asset or income requirements though you do have to give all the info on the FAFSA. I don’t know what the allowances are for an independent student for assets or income before the forumulas hit, nor do I know how California state aid works for anyone, or if there is any for indep student. I suggest you research all of this, and set up an appt with the financial aid officer at UCLA to see what is available to you. </p>
<p>Another angle to possibly explore is if you can start this summer and take courses full time towards your degree (as well as have that term count for degree residence requirements) You can possibly take your sophomore allotment of $10500 towards the summer courses. getting refunds if the actual cost of the courses alone are less as excess can go towards living expenses which are allowed under the Cost of Attendance rules. This is, again, something that needs to be discussed with UCLA.</p>
<p>You can also look for scholarships for non traditional students and transfers. </p>
<p>Ah…you are over 24. That bit if information sheds a slightly different light on your situation. You are independent for financial aid purposes due to your age. You do NOT have to include your parents income and assets on your FAFSA…just your own. If you haven’t filed your FAFSA for 2014-2015, you need to do it ASAP. </p>
<p>In addition, I believe that as an independent student, your Direct Loan amount is higher than that of a dependent student for financial aid purposes. </p>
<p>And if you are actually living in the property, it would NOT be included as an asset on the FAFSA at all, as it would be your primary residence.</p>
<p>Thank you again to @cptofthehouse and @thumper1. So, my next step is to apply to <a href=“https://fafsa.ed.gov/”>https://fafsa.ed.gov/</a> to apply for my FA…What about pell grants? <a href=“Federal Pell Grant Program”>http://www2.ed.gov/programs/fpg/index.html</a>… Any hope for that, or will I be waisting my time? </p>