@dodgersmoms I’m not sure I understand your comment. When S entered his first year at a UC his HS had applied for the CalGrant. He was awarded an amount. D, who was a senior at another CA institution, had never been awarded a CalGrant. She was awarded one in her senior year (when S was the entering freshman). I was told by UC FA that the school will automatically apply for the CalGrant funds for the student each year.
Not saying you are wrong, just can’t reconcile it with my our experience.
I believe that as long as you apply every year (FAFSA and GPA) and on time, you don’t lose your
eligibility. To the original poster - your best bet is the blue and gold ehich covers tuition and doesn’t
look at assets. But you have to be under the 80k income limit. So if you know that the 90k was
an outlier, you may be eligible for that next year. If you will have two in college at the same time, your
EFC will also be lower. Because of the UC blue and gold, it is actually cheaper for us to go there than
a CSU.
^^^
I don’t think that is true. Blue and Gold does look at assets because you still have to have “need” and assets can mean that a family doesn’t have need.
Doesn’t sound like this family will have two in college at the same time, hence the mention of 8 years of paying for college.
well, there is no speciific asset limit like there is for cal grant. Yes, you have to have need as COA - EFC.
I used UCB net price calculator, input $90K income, tax paid $12,000, income earned by both parents, family of 4, 1 in college, zero for others and got $15,391 grant, $7,900 loan and work study, $11,017 parent loan.
https://saservices.berkeley.edu/calculator/Dependent.aspx
I got a $15,474 grant, $8,200 self help, EFC $9,600 with UCLA.
https://app.financialaid.ucla.edu/FASEstimator/Dependent.aspx
I got $13,593 grant if I specified income earned by only 1 parent.
@coolweather The OP says his son only was accepted to two UCs, so I suspect that they weren’t UCLA or Cal. UCLA and Cal use a generous formula for calculating family contribution, which is something like 10% of income if you earn less than around $120k (or something like that). The other UCs don’t use that formula.
Dietz, your daughter may have gotten a competitive calgrant. Those are available to students who did not get Calgrats their first two years out of HS. I believe dodgersmom put that in her post.
@mom2collegekids I tried UC Davis I got numbers close to UCLA numbers.
I tried UC Merced I got $12,500-$13,500 in grant.
http://finaidcalc.ucmerced.edu/dependent.php[/ur]
UCI gives $9,400-$10,400 in grant.
https://www.ofas.uci.edu/content/Calculator_Dependent.aspx?nav=0
I guess the OP has some asset, or saving, or other kind of benefit, or possibly put wrong info on FAFSA.
Anyway, we cannot help much if the OP does not give more info.
@dietz99 - You’re correct that I didn’t express myself as clearly as I could have. Let me rephrase:
Initial eligibility for a need-based, guaranteed Cal Grant ends one year after high school graduation (unless a student takes the community college route).
In other words, if a UC or USC student is deemed ineligible for Cal Grant (due to excessive income) when he first applies (as a high school senior), and is deemed ineligible again when he applies in the spring of his freshman year in college, it’s game over. He does not get another chance to apply for the entitlement grant.
A student who applies and is deemed eligible for the Cal Grant either senior year of high school or freshman year at a UC or USC remains eligible for all four years of college, assuming there’s no significant change in the family finances.
In the OP’s case, her student applied from high school and was deemed ineligible. If he enrolls at a UC or USC and is deemed ineligible again next spring, his only recourse will be the competitive grants.
@coolweather Maybe the other UCs are now following the top UCs calculations…or maybe this is part of the newish middle class FA. But, you’re right, maybe assets are the issue. The parent seems to be self-employed, so maybe is heavily putting into retirement accts or maybe unprotected retirement accts.
Also, don’t know if the quoted income is after retirement contributions…if so, then the annual contribution gets added back in.
@SheSays I find it really shocking that you did not receive any financial aid from the UCs. My family’s income is about 130,000 for a family of four. My younger brother attends a Cal State. I received 8.7k in grants and 22k in loans from UCSB. I received 15.7k in grants and 8k in loans from UCR. I received about 8k in loans from CSULB.
@SheSays, why are you not applying for the MCS Middle Class scholarship? Income limit is $150K. Governor Brown started it this year for families exactly like yours. Please contact his schools and ask immediately. The information should come to you after you receive the other FA information. http://www.csac.ca.gov/mcs.asp
I know about this scholarship too well because our family just missed the income cutoff.
We did not receive Cal Grants because of our income the first year at UC Davis and Cal Poly. The past two years are income was much lower and although we didn’t receive Cal Grants we did get scholarships that were equal or greater than the Cal Grant. So all is not lost is you don’t get Cal Grants the first year. The middle class scholarship is being phased in and last year it was only in the hundreds of dollars.
@dannybui9
You have 2 in college…big difference.
We also don’t know what the asset situation is for @
being self employed, he may have a good bit in assets and may be contributing a LOT to retirement accts or unprotected retirement accts.
What is your EFC for each student.
@auntbea is right…did you apply for the Middle Class Scholarship? If not, is it too late???
I think shesays has left the room!
@SheSays got your pmessage. The kinks on the MCS are being worked on, but I am assuming it is going to be more than what they are estimating, because it won’t really help much for a few hundred dollars to knock down the rest of the amount.
You may want to check with the State Student Aid Commission. They are the one’s who are supposed to be implementing it.
Hi Everyone -
Thank you all so much for your kind words/help/advice. Really appreciate it! We read every post and are still trying to figure out how to move forward.
The main thing driving the family contribution is your income. In addition, your assets are considered if above the asset protection allowance. If you own property in addition to your primary residence, the equity in this is counted as an asset on both the fafsa and Profile forms. Any pretax contributions you made to IRA/TSA types of retirement accounts in 2014 will be added back in as income for financial aid calculation purposes.
The balances in your retirement accounts are not listed as assets.
The Profile has much more financial information on it than the fafsa, and the schools using the Profile will use that information primarily.
If you are self employed, you will likely see deductions allowed by the IRS added back in for financial aid purposes. The same could happen with rental properties or any other business expenses.
And many profile schools do consider the equity in your primary residence in the formulas to some degree.
You don’t apply for the middle class scholarship. Like the blue and gold promise they are automatic if you qualify.
Since the MCS is new, there are a lot of kinks and the schools need a heads up on who needs help. The Student Aid commission should have more information, but it’s waiting for the information from Sacramento…