Will applying for financial aid as a transfer student lower my chances?

<p>Hello.
I'm a us citzen currently studying at a university abroad.
I want to transfer to some decent college in USA.WIll applying as a transfer lower my chances of financial aid? </p>

<p>According to my circumstances ,my family contribution will be probably be very less(like less than a 1000 dollars).
It's because my dad is retiring soon(he's the only working parent) and i got 2 elder brothers who are currently studying and are also financiing their studies through financial aid and loans.</p>

<p>Do you think I have chances of getting a pell grant?</p>

<p>*According to my circumstances ,my family contribution will be probably be very less(like less than a 1000 dollars).
It’s because my dad is retiring soon(he’s the only working parent) and i got 2 elder brothers who are currently studying and are also financiing their studies through financial aid and loans.</p>

<p>Do you think I have chances of getting a pell grant? *</p>

<p>I think you’re confused. Getting a Pell grant is not based on what your parents say they can contribute. </p>

<p>Also, your EFC (expected family contribution) is NOT based on what your parents SAY they can pay. It’s based on what FAFSA determines is their EFC. Their EFC may be a lot higher than $1k ---- and it may be too high to qualify for Pell.</p>

<p>Getting a Pell Grant is based on your EFC. </p>

<p>Use this to get an idea of EFC [FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>

<p>It is very doubtful that you will get the aid you need as a transfer student if your parents can only pay $1k per year towards your education - no matter if you qualify for Pell or not. </p>

<p>Most schools cannot meet need of students. What schools are you applying to?</p>

<p>Are you a resident of any state?</p>

<p>In addition to the fact that most schools can’t meet full financial need of all accepted students, many schools don’t give financial aid to transfers. The schools also will determine your financial aid based on your dad’s current work situation, not his plans to retire.</p>

<p>With a 1630 SAT, you’re unlikely to get into colleges that are extremely generous with financial aid.</p>

<p>Whether you can get a Pell grant depends on your EFC. Your EFC is calculated based on your parent’s income and assets and your own income and assets. If you are thinking of attending school in the 2010-2011 school year then you would have to complete the 2010-2011 FAFSA which uses 2009 income, and assets as of the day you file FAFSA. The EFC cut off for the Pell is 4617. If your FAFSA EFC is 4617 or below you will be eligible for some Pell. If it is 4618 or above you will not.</p>

<p>The maximum Pell for 2010-2011 is $5,550 and that is for a student with a 0 EFC. As the EFC increases the amount of Pell decreases until at EFC 4618 there is no Pell eligibility. Even if you are eligible for the maximum Pell it is a drop in the bucket (though a welcome one) for covering the cost of colleges. </p>

<p>Are your brothers studying in the US? If so are they Pell eligible? If they are you probably will be as well (unless you have more income and assets in your own name). The part of the EFC generated by parent financial information is divided equally (in the EFC formula) between the siblings who are in college at the same time. Once your siblings graduate from college your EFC will go up.</p>

<p>In looking at your other threads, I see that Texas Tech is a place where you’re applying. Virtually no public college can meet the full financial need of even their in-state applicants. Texas Tech is not among the handful of public colleges that promise to meet the full demonstrated need of OOS applicants.</p>

<p>Are your brothers studying in the US? If so are they Pell eligible? If they are you probably will be as well (unless you have more income and assets in your own name). The part of the EFC generated by parent financial information is divided equally (in the EFC formula) between the siblings who are in college at the same time. Once your siblings graduate from college your EFC will go up.</p>

<p>Good question. Are your brothers studying in the US and getting Pell? Will they be in school next year or will they be graduating soon?</p>

<p>Did your brothers have higher stats than you have?</p>

<p>Hey thanks for the replies.
and yes I am a bit confused :(</p>

<p>As for my bros,their not expected to graduate anytime soon,as one of them just started his masters and the other is doing medical.</p>

<p>I’m really sorry for not being specific.I do have plans of applying to Texas Tech,and I am going to do so hopefully in a year.Currently im studying at a foreign university and doing BCS(computer science) .I’ve completed one semester uptill now. </p>

<p>anyways does a transfer student have any chances of getting any sort of financial aid?Will i have to rely on private loans to fund my education?</p>

<p>If you’re asking about free money…If you qualify for a full or partial Pell grant, then you’d get that. But that will only be $5500 or less (depending on EFC). Public schools do not meet need of nonresidents (exceptions: UVa and UNC), because they don’t have enough to give to their own residents.</p>

<p>I don’t know how FAFSA takes into account siblings who are in graduate school or medical school. Anyone??? (Aren’t those siblings independent or am I confused?)</p>

<p>If you’re not a Texas resident… Texas Tech has a COA of about $31k per year (not including international travel). </p>

<p>So, you would have to take out Stafford loans and big private loans for most of the costs. Not a good idea. If you spent 2 years at TT, you’d graduate with about $50k in debt - most at highish interest rates. Your monthly payments would be about $600 per month for 10 long years.</p>

<p>my elder bros are independent but their studying fulltime (no job).</p>

<p>what’s COA???
anyways what do you suggest i should do? :S
any good advice?(I’m clueless)</p>

<p>cost of attendance = COA (that’s the cost of tuition, room, board, books, fees, misc, travel)</p>

<p>Your brothers won’t be considered in the aid process since they’re independent. (I think).</p>

<p>I’m not sure what you should do since it doesn’t look like you’d have the funding to come to school here.</p>

<p>Do you have residency in any state?</p>

<p>As a US citizen, you can move to a state where you would like to study, find a job there, and work for the time needed to establish residence for tuition/fees at the public universities. Then, after your residence is fully established, you can apply for admission. In the Maryland, you would be considered in-state at the community colleges after three months, and in-state at the public universities after 12 months. You would have to be living here, with clear intent to establish Maryland as your permanent home. You would have to have a job, pay Maryland state income tax, register to vote, etc. </p>

<p>Some states make residence more difficult to establish, since you are interested in Texas Tech, you need to research the policies there.</p>

<p>If your parents have residence in another state, you should consider applying to public colleges and universities in that state. Chances are this would be your least expensive option.</p>