Investing in Your Future:

Financial Aid and USC

2018
 TABLE OF CONTENTS

Introduction 2

Funding Your College Education 4

Resources 5
Family and Student Savings 6
Grants 6
Employment 7
Scholarships 8
Understanding and Managing Loans 11

How It Works: Financial Aid at USC 18

About USC 18
USC at a Glance 19
Sources and Amounts of 21
Financial Aid Awarded
Need-Based Financial Aid 22
How to Apply 24
Understanding Your Financial Aid 26
Summary
Covering Your Expected 28
Family Contribution

Online Resources 29

C
1
 Introduction

Four Years of Study…

A Lifetime of Benefits
A college degree represents a significant investment not just in your
education but in your future. But with the cost of higher education
rising, and the length of time required to complete a degree
increasing, college may seem out of reach or impractical for many.

The reality is that a college education may

be more affordable than you imagined,
even if you choose to attend a private
university. Though tuition at a top-tier
university may be more than that for a
state college or university, students at
private universities typically receive more
aid in the form of scholarships and grants
– funds that do not need to be repaid
upon graduation. These students are
also more likely to complete their degree
objectives in four years. At USC, most
students successfully complete a double-
major or major-minor combination within
four years.

2
A college education also means you can reap greater rewards and be fully prepared to
contribute to society throughout your lifetime. According to the College Board and the
U.S. Bureau of Labor Statistics:*

•College graduates earn 66 percent College graduates play a key role in creating
more in lifetime wages than those with a stable economy that benefits not only
just a high school diploma. Those with themselves, but their families, their children,
master’s or professional degrees earn and their communities.
nearly three times more.
The rewards of a college education don’t
•In 2016, the unemployment rate for end at graduation. Imagine what you can
those with bachelor’s or advanced accomplish in four years…and beyond.
degrees was nearly a third of that for
those with little or no college education.
•College graduates are more likely
to vote and volunteer, enjoy greater
job satisfaction and stable career
prospects, and have increased access
to health insurance and benefits.
*Employment Projections 2016. U.S. Bureau of Labor
Statistics. www.bls.gov/emp/ep_chart_001.htm

Education Pays 2016. College Board.

trends.collegeboard.org/education_pays

3
 Funding Your
College Education

Numerous programs
exist to help students
and families pay for a
college education.
Undergraduate financial aid includes grants, merit scholarships,
loans and Federal Work-Study. The amount and types of aid students
receive can be based on a student’s and family’s financial need
(need-based) or provided without regard to need.

Need-based financial aid may come from the federal government, the state or the
institution. Some funds, such as grants, scholarships and Federal Work-Study, do not
need to be repaid. Loans, however, do need to be repaid after graduation, so students
and families who choose to borrow should plan accordingly.

4
 Resources
The following chart lists the most common sources of funds available to students to pay
for their education.

Family and Student Savings 529 Savings Plan, bank and/or investment accounts

Merit Scholarships No repayment Scholarships based on talent or academic

achievement, without regard to need, from
the university or other sources.

Employment and Earned wages; Student receives wages as an employee for

Federal Work-Study no repayment hours worked, up to a pre-determined total
per year.

Need-Based Grants No repayment Federal & state grants, USC University Grant

Direct Student Loans Must repay Federal Direct Subsidized and Unsubsidized Loans
with interest;
fixed rate

Direct Parent Loan Must repay Federal Direct Parent PLUS Loan
with interest;
fixed rate

Private Loans Must repay Various banks and lending institutions

with interest;
variable
rates based
on borrower
and/or
co-borrower
credit scores
 Funding Your
College Education

Family and Student Savings

No matter how much federal, state and university financial aid you may
qualify for, you will still need funds to pay for any expenses not covered
by financial aid, and for any other personal expenses you may have,
such as your phone bill.
Interest-bearing savings accounts are a good way to plan for and cover any out-of-pocket
expenses you incur while you are in school. Keep in mind that parent savings and
investments have a smaller impact than student assets on calculations of the total
family contribution.

Good news if you have a 529 or Coverdell savings plan: Account holders are not required
to pay federal income tax on the money they withdraw from these savings plans to pay
for college expenses. (State income tax rules vary.) Visit www.collegesavings.org for
more information about 529 Savings Plans.

Private College 529 Plan form of grants, which do not have to be

repaid after graduation.
Several private institutions, including USC,
now participate in the Private College 529 Plan, Federal grant programs include:
a prepaid tuition plan owned and operated by • The Federal Pell Grant. This federal grant
private colleges and universities. It is NOT a program provides funds for students with
529 savings plan sponsored by a state. financial need.

The plan allows families to pay for future tuition • The Federal Supplemental Educational
at current rates. Assets can be used to pay only Opportunity Grant/FSEOG. This federal
for undergraduate tuition and mandatory fees. program provides additional grant funding
Please visit PrivateCollege529.com or call to students with exceptional financial need.
1-888-718-7878 for more information. Please visit studentaid.gov for more
information about these programs.
Grants State Grants
Federal Grants Most of these programs are for state
Federal student aid may be awarded in the residents attending an in-state college

6
or university. They are typically used to depending on the type of grant); and
pay tuition and fees but may also include •Plan to be enrolled at least half-time.
a living stipend or allowance. A limited Students who meet the criteria established
number of states have programs that enable by California Assembly Bill 540 (also known
residents to use a state grant at an out-of- as the “California Dream Act”) may be eligible
state college. For more information, visit to receive a California Dream Grant. Visit
studentaid.gov and click on Types of Aid. www.calgrants.org for more information.
State grants include the Cal Grant, offered
only to residents of California. To qualify, USC University Grant
you must: Funded and awarded by USC, the University
• Demonstrate financial need, with income Grant is need-based, calculated after
and assets below the state-established limits; your available federal and state aid has
been determined.
• Meet academic requirements (a grade
point average of at least 2.0 or 3.0,

Employment
Many college students work part-time during the academic year and
summers. Besides earning money to help pay for college expenses and
personal needs, working part-time is a great way to gain experience and
build your resumé.
Federal Work-Study
Federal Work-Study funds are allocated to
students with financial need, as determined
by a review of the financial aid application.
The award amount represents the total wages
a student may earn from on- or off-campus
employment under the Federal Work-Study
program for that academic year.
Campus Jobs
Numerous jobs are available on campus. Many will require you to have a work-study
award, but many others are open to students without work-study. You might be a campus
tour guide, an office assistant, or a computer or science lab assistant. Jobs can usually
be found through the school’s newspaper, job boards or by word-of-mouth. We also
encourage USC students to attend the Job Fair held at the beginning of the fall semester.
Students can browse or search current job postings through the Career Center at
careers.usc.edu.

7
 Funding Your
College Education

Scholarships
Scholarships are typically awarded by universities and other organizations
for outstanding academic achievement, special talents and other personal
characteristics, without regard to an applicant’s financial need.

They can be awarded to cover tuition and fees only, or they can cover living
and other expenses as well. (Scholarship programs will typically stipulate
what their awards can and cannot be used for.) They do not need to be
repaid after the student graduates.

To Find More Information About Scholarships:

•Visit the websites of your university’s offices of admission and financial aid,
or academic departments.
• Visit online databases that offer free search services. (See page 29 for a list of databases.)
• Ask your college counselor and check the bulletin boards in the guidance office.
• Also check your parents’ workplaces. Businesses often establish scholarships for
children of employees.

8
Sources for Scholarships

University admission and financial aid offices or academic departments

Community and civic groups (Elks Club, Kiwanis, etc.)
Credit unions
Clubs and membership organizations
Fraternities and sororities
Labor unions
Cultural or ethnic organizations (Hispanic Scholarship Fund, National Urban League,
National Italian American Foundation, etc.)
Professional associations (National Society of Professional Engineers, National Student
Nurses Association, etc.)

Religious organizations (United Methodist Church, Knights of Columbus, etc.)

ROTC (Air Force, Army, Marine Corps and Navy)
Veterans’ associations (for children of current, retired or deceased military personnel)
U.S. corporations

Do not pay for a scholarship search—all the information you need is available for free!

9
 Funding Your
College Education

USC Merit Scholarships

USC administers several prestigious scholarship programs, ranging in value from a few
thousand dollars up to full tuition.

Awarded by the USC Office of Undergraduate Admission, the following USC Merit
Scholarships are based primarily on academic excellence, leadership, service and
talent. You must apply for admission by December 1 to be considered.

Mork Family
Stamps
Trustee
Presidential
International Freshman Academic
Deans
Jewish Leadership
Leadership
USC Associates

Other Scholarships
Below are just a few of the scholarships offered by USC organizations outside
the Office of Admission. They may require a separate application. Please visit
admission.usc.edu/scholarships for details.

Asian Pacific Alumni Association

Black Alumni Association
Latino Alumni Association
Norman Topping Student Aid Foundation
Town and Gown
USC Alumni Clubs
USC Lambda LGBT Alumni Association

10
Understanding and Managing Loans
Many students and families borrow money to assist in financing a college
education. Loans are considered part of the family’s investment in a
student’s education and become the student’s and/or family’s responsibility
to manage and repay once the student graduates.

Like credit cards, loans can be either a big help or a trap. They must be
repaid with interest, and the lender or the government may charge extra
fees to obtain the loan. Be careful not to take on more debt than you will be
able to repay. Your best bet is to borrow no more than you absolutely need.

Interest rate chart:

LOAN TYPE FIRST DISBURSED INTEREST RATE

Direct Subsidized and July 1, 2017 - 4.45%
Unsubsidized Loans June 30, 2018

Direct Parent PLUS Loan July 1, 2017 - 7.00%

June 30, 2018

Federal Student Loans

Your eligibility for loans can be based
Loan Alert! When you borrow a loan,
either on your financial need (need-
be sure you fully understand:
based) or on your cost of attendance
• How much you will owe.
(non–need-based). When searching
• When you must begin repayment.
for loans, you should always start
• Your repayment options.
with those offered by the federal
• The penalties for late payment and
government, as their terms are usually
defaulting (failing to make payments).
the most favorable.

11
 Funding Your
College Education

Advantages of Direct Loans Once set, the interest rate is fixed for the life
• Fixed interest rates. of the loan. For more information about the
•Subsidized loan programs: You may be current interest rates and fees for the Direct
eligible to borrow loans for which the Loan Program, visit studentloans.gov.
federal government pays the interest
while you are in school. NEED-BASED FEDERAL LOANS

•No credit checks: Federal student loans Direct Subsidized Loan

for undergraduates are not based on the • Based on financial need.
student’s credit history. (Additional loans
available to the parents of undergraduate • For first-time borrowers after July 1, 2013,
students do require a credit check.) Direct Subsidized Loans are available for a
maximum of 150 percent of the length of your
•Loan forgiveness and other repayment academic program. If you do not complete
options: You may be able to take your undergraduate degree within that time
advantage of federal loan forgiveness frame, you may lose the subsidy on loans
programs or repayment plans to help received after July 1, 2013.
manage your debt after graduation.
(For more information, see pages 15-17.) • For loans disbursed between October 1, 2017,
and September 30, 2018, the loan fee is 1.066
The Direct Loan Program percent.
All Direct and PLUS loans are offered •The federal government pays the interest
through the Direct Loan Program. Funded on the loan while you are in school at least
by the U.S. Treasury and serviced by the U.S. half-time.
Department of Education, Direct Lending
offers borrowers a stable funding source
shielded from changes in the national
economy. It also provides students and their
families a single point of contact for the
management of all Direct Loans. Please visit
studentloans.gov or financialaid.usc.edu/
loans for more details about the program
and its benefits.

Each May, the federal government sets the

interest rate for Direct Loans disbursed for
the upcoming academic year.

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•Payments and interest accrual begin six (6)
months after you graduate or drop below Annual Unsubsidized Loan limit:
half-time status. $2,000

• Amount you can borrow depends on For dependent undergraduates,

your class level (see box below). maximum total student debt from
Subsidized and Unsubsidized Loans:
• First-time borrowers in the Direct Loan $31,000
Program must sign a promissory The maximum is $57,500 if you are
note, which is a binding legal document. independent according to federal rules
• Standard repayment term is 10 years. or standards, or your parents are
unable to borrow under the Direct PLUS
Loan program.
Subsidized Loan limits
• First-Year Students: $3,500
• Sophomores: $4,500 Direct Parent PLUS Loan for
Undergraduate Students
• Juniors or Seniors: $5,500
• Unlike the previous loans, this one must
Maximum total student debt from
Subsidized Loans: $23,000 be borrowed by a (biological or adoptive)
parent or stepparent.
• Based on the borrower’s credit history —
NON–NEED-BASED FEDERAL LOANS a credit check is required. (Bankruptcy,
previous loan defaults or credit card
Direct Unsubsidized Loan
delinquency can disqualify potential
• Available to borrowers who do not qualify borrowers. Parents may apply with a
for the Subsidized Loan, or to borrowers co-signer or “endorser.”)
who do qualify but need additional funds.
•Your parents may borrow any amount,
You can receive both loans at the same time.
up to the cost of attendance, less other
• Interest rate and origination fees are the financial aid and/or scholarships received.
same as for Subsidized Loans.
• Your parents will be charged a loan
• Interest begins accruing immediately and origination fee of 4.264 percent (for loans
is added to the principal at repayment. disbursed between October 1, 2017, and
• Payments begin six (6) months after you September 30, 2018).
graduate or drop below half-time enrollment. • Interest accrues from the day the loan
• First-time borrowers in the Direct Loan is disbursed.
Program must sign a promissory note, • Unlike other federal loans, repayment
which is a binding legal document. begins 60 days after full disbursement.
•S tandard repayment term is 10 years. •L oan payments may be deferred while
the student is enrolled at least half-time.

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 Funding Your
College Education

Unlike federal loans, some private loans

have a variable interest rate with no rate
cap, which means your monthly payments
could increase significantly in years to come.

The interest rate you are quoted by the

lender will depend primarily on your credit
score, which is based on your history of
repaying money you owe (on a credit card,
car loan, etc.), and on how much available
Private Loans
credit you have. Always apply with a credit-
Prior to applying for private financing:
worthy co-borrower to reduce your costs.
Students should exhaust all Federal Title IV
assistance available, including Federal Pell
Although advertised interest rates may
Grants, Direct Loans, and the Direct Parent
sound great, you may not qualify for those.
PLUS Loan. The repayment terms of federal
Always beware of the fine print regarding
loan programs may be more favorable than
discounts, penalties, fees and capitalization.
the terms of private loan programs.

Federal student loans are required by law

to provide a range of flexible repayment
options, including but not limited to, Income-
Based Repayment and Income-Contingent
Repayment plans, and loan forgiveness
benefits, which other student loans are
not required to provide. Direct Loans are
available to students regardless of income.

• Private student loans may not be included

in Direct Consolidation Loans.
• Private student loans are not eligible for
Federal Income-Based Repayment Plans.
• Private student loans are not eligible for
Federal Economic Hardship Deferments.

14
Questions to Ask Lenders About Fees Federal Loan Repayment
and Forgiveness Programs
•What actions (such as a late payment)
The U.S. Department of Education offers
will trigger a fee?
several programs to help manage your
• How much are the fees? student loan debt once you graduate.
• How is the fee calculated?
Be sure to compare options and read all
•Are fees “wrapped” into the loan? (If so, the disclosures. Some options may lower
you will be paying interest on them, which your monthly payments in the short term
means they will be more expensive than while increasing your costs over the long
they seem.) term. See the table on page 17 or visit
•Will I be required to pay service charges studentloans.gov for more information.
once I enter repayment on the loan? These options are available only for
federal student loans.
Carefully read all the information provided in
the lender’s Truth In Lending Act (TILA) Loan
Direct Consolidation
Application and Solicitation Disclosures.
Loan Program
This program enables you to combine
Comparing Private Loan Offers
any or all of your eligible outstanding
• Shop around. Be sure to apply for a loan
federal student loans into one new loan
with more than one lender to ensure you
with one monthly payment. The new loan
receive the best possible rate. Look at
will have a fixed interest rate set at the
interest rates and loan terms. Look for
weighted average of the interest rates
the lowest rate with the lowest cap.
of the underlying loans. It may have an
• Your TILA Disclosure will include estimates extended repayment period of up to
of total interest charges. Compare the total 30 years.
cost of repayment with other loan offers.
AmeriCorps/Teach for America
This network of local, state and
national service programs offers
full-time employment with public
agencies, community organizations
and other groups.

15
 Funding Your
College Education

Jobs include tutoring and mentoring Please visit studentaid.gov for more
disadvantaged youth, managing after- information.
school programs, restoring parks,
building affordable housing and improving Public Service Loan Forgiveness
health services. Forgiveness may be an option for borrowers
who are:
Please visit www.americorps.gov for
more information. Both programs may • Employed by any nonprofit, tax-exempt
501(c)(3) organization;
allow you to postpone payment and
subsidize accruing interest. • Employed full-time by the federal
government, a state government, local
Teacher Loan Forgiveness government, or tribal government
Students who teach full-time after (including the military and public schools
graduation in a qualified low-income and colleges); or
elementary or secondary school for five •Serve in a full-time AmeriCorps, Teach for
years can have up to $5,000 of their America or Peace Corps position.
outstanding federal student loans forgiven, It will forgive remaining debt after 10 years
which means the money will be paid to of eligible employment and qualifying
the loan service agent at the end of your loan payments under the Pay-As-You-Earn
teaching service. (PAYE) plan.
Students who are considered highly qualified Visit studentloans.gov for more information.
teachers of math, science or special
education may have up to $17,500 of their
outstanding federal student loans forgiven.

16
 State Loan Forgiveness Programs
In addition to the federal government, states
also run programs to support students
preparing for specific professions, including
teaching and health-related careers. For more
information, check with your state’s board of
education or similar agency.

Federal Loan Repayment Plans: Pros & Cons

LOAN TYPE DESCRIPTION PRO CON

Standard Fixed monthly Your total payments At the start of your

payments with will be less than with career, it can be
maximum term of any other option. difficult to afford
10 years. the payments.

Graduated Payments start Easier to afford when You pay more over
low and gradually you are right out of the life of the loan.
increase (but all college.
payments must cover
at least the interest
due).

Pay-As-You-Earn Payments are Makes loan payments May not benefit you
(PAYE) adjusted each more affordable if your income far
year, based on for low-income exceeds 150% of
your monthly gross borrowers. Amounts poverty level and you
income. outstanding after have not borrowed
20 years may be large amounts.
forgiven.

Loan Consolidation Allows you to The convenience If you extend

combine any or all of having just one repayments over
of your federal loans payment. Lower more years by
into a single new monthly payments consolidating, the
loan. You can choose (by extending the total cost of your
any of the above payment term for loans will increase.
repayment plans. more years).

Student Loan Interest Deduction

The interest you pay on a qualified student loan can reduce the amount of your
income subject to federal taxes by up to $2,500, depending on your income. (For
more information on this and other tax benefits that may be available to you, refer
to I.R.S. Publication 970, Tax Benefits for Education.)

17
 How It Works:
Financial Aid at USC

About USC

Founded in 1880, the University of Southern California has become

one of the top private research universities in the country, comprising
a liberal arts college and 18 professional schools.

USC offers world-class undergraduate programs in virtually every field

of study, with an interdisciplinary approach that combines theory and
practice. Actively engaged in research and professional work, USC’s
distinguished faculty share the excitement of intellectual discovery with
the students they teach. All USC students gain the lifelong networking
benefits of membership in the Trojan Family.

USC is located in Los Angeles, a dynamic world center populated

by more than 100 nationalities and home to industry leaders in
aerospace, entertainment, finance, technology, pharmaceuticals and
telecommunication. In addition to great weather and nearby beaches,
the city boasts a youthful, entrepreneurial spirit and an economy that
ranks 20th in the world.

What We Look For

USC looks for consistently strong academic performance throughout high school.
We are particularly interested in the type of courses you take and the trend of your
junior- and senior-year grades. Your academic record is also evaluated within the
context of your high school. Most first-year students at USC are selected from the
top 10 percent of their high school classes.

18
USC at a Glance

NUMBER OF STUDENTS AVERAGE CLASS SIZE

19,000 26
Undergraduates Students

25,000
Graduate students VARSITY TEAMS
9
STUDENT DIVERSITY Men’s

All 50 states & 135 countries 12

Women’s
20%
under-represented minority students
PERFORMING ARTS VENUES
FIRST-YEAR MERIT SCHOLARSHIP 6
RECIPIENTS
630
STUDENT ORGANIZATIONS
FACULTY More than

4,190 850
Full-time

1,828 ON-CAMPUS DINING OPTIONS

Part-time 22
STUDENT-TO-FACULTY RATIO

8:1
19
 How It Works:
Financial Aid at USC

How much financial aid does USC award?

Nearly two-thirds of USC undergraduate students receive financial aid,
in the form of merit scholarships, need-based grants, Federal
Work-Study and student loans.

Eligibility:
At USC we work with families to meet a student’s full USC-determined
financial need, subject to a review of the student’s financial aid
application and the family’s finances, as well as to available funds
from federal, state and university sources.

20
 Sources and amounts of financial aid
awarded to all undergraduates
AY 2016-17
Total: $513.7 Million

Federal, Parent
and Private Loans
$132.4 Million
25.8%
Federal
Work-Study
$14.3 Million
2.8% USC Grants and
Scholarships
Private
$305.7 Million
Scholarships
$19.1 Million 59.6%
3.7%
State Grants
$21.0 Million
4.1%
Federal Grants
$21.3 Million
4.1%

21
 How It Works:
Financial Aid at USC

the country. However, the allocation of

financial aid funds is restricted by federal
and state regulations and university policy.
Cal Grants may be impacted by changes
in the California state budget. Some
programs such as the Federal Pell Grant
and the Federal Supplemental Educational
Opportunity Grant are restricted to those
students who demonstrate exceptional
financial need. Students who qualify for the
California Dream Grant may receive limited
university aid but will not be eligible to
receive federal financial aid.

Need-Based Financial Aid: To receive any aid for which they may be
Basic Requirements eligible, applicants must meet all published
All applicants to USC can apply if they: deadlines and submit any additional
requested information. Applicants who
• Are a U.S. citizen or eligible non-citizen
(for example, a permanent resident, miss any published deadline may be
refugee, or asylee, etc.) or are eligible for considered for reduced funds.
the California Dream Grant.
How Your Financial Aid Is Determined
•Possess a valid Social Security number Your eligibility for federal and university
(if required); and
need-based aid is based on two factors:
• Are registered with the Selective Service the Cost of Attendance at the college of
System (if required). your choice and your Expected Family
Contribution, as calculated by each college.
Although international students are not
eligible to receive federal or USC need-based The Cost of Attendance (COA) includes
financial aid, they may be awarded merit a college’s tuition and fees, on- or off-
scholarships and/or other departmental campus housing and a meal plan, and
awards. Additionally, international students allowances for the estimated costs of books
may apply for some private loans, typically and supplies, transportation and personal
with a qualified co-signer who is a U.S. citizen. expenses (clothing, toiletries, entertainment
and so forth).
USC administers one of the largest financial
aid programs of any private university in

22
Your Expected Family Contribution (EFC) family’s relative financial strength, including
is determined by analyzing your family’s your family’s special circumstances (for
financial information, such as: example, an extended illness or job loss).

• Your parents’ taxable and untaxed income; Your EFC is then subtracted from the COA.
• Family assets (money in bank accounts,
stock funds, real estate, home equity, etc.);
Cost of Attendance
• Any special circumstances your family
has (such as a job loss or higher-than-
– Expected Family Contribution

average, out-of-pocket medical or dental = Your Eligibility for Financial Aid

expenses);
• The number of children in your family;
USC is required to consider all your
• How many children are full-time resources when determining your eligibility.
undergraduates in college; and Not all students who apply for need-based
• How close your parents are to financial aid will be eligible to receive it.
retirement age.
Students and families who do not qualify
Calculating the EFC for need-based aid may wish to consider
All colleges use a need analysis (called funding options that are not dependent
Federal Methodology) to determine the on need, such as the Direct Unsubsidized
amount of federal student aid for which you Loan, Direct Parent PLUS Loan, alternative
qualify. Many private institutions, including financing options such as tuition prepayment
USC, also use an Institutional Methodology or installment plans, and private loan
to determine the amount of university aid for programs. (Please see page 14 for important
which you qualify, in addition to federal aid. information regarding private loans.)

Federal Methodology
Based on family income and assets,
not including equity in the family home.

Institutional Methodology
Based on family income and assets, including
home equity. At USC, the EFC calculated to
determine your eligibility for university aid
is based on an additional review of your

23
 How It Works:
Financial Aid at USC

How to Apply
To apply for federal financial aid, you must submit the Free Application
for Federal Student Aid (FAFSA). You must also submit the CSS PROFILE
Application to be considered for university need-based financial aid.
Apply as early as possible to ensure timely notification of your financial
aid eligibility and to be considered for all possible funding.

Step 1. FAFSA: Step 2. CSS PROFILE:

First-Year Students: First-Year Students:
Due by February 13, 2018 Due by February 13, 2018
Transfer Students: Transfer Students:
Due by March 2, 2018 Due by March 2, 2018
Complete the 2018-2019 Free Application Complete the 2018-2019 College Scholar-
for Federal Student Aid (FAFSA) online at ship Service (CSS) PROFILE Application
www.fafsa.gov. The FAFSA determines online at profileonline.collegeboard.com.
your eligibility for the low-interest Direct This application, along with your FAFSA
Loan, the Direct Parent PLUS Loan, as information, will help determine your eligib-
well as for federal and state grants. ility for university need-based financial aid.
• Report 2016 parent and student income • Report 2016 parent and student income
on your FAFSA. on your PROFILE.
•U
 SC’s Federal School Code is 001328. •USC’s CSS School Code is 4852.
•The FAFSA is available beginning •The PROFILE is available beginning
October 1, 2017. October 1, 2017.
•Apply as soon as possible after •Apply as soon as possible after October 1,
October 1, 2017, but no later than the 2017, but no later than the appropriate
appropriate deadline above. deadline above.
•Be sure to include your Social Security
number (if you have one).

24
 Transfer Students Currently Receiving
Tips for completing the FAFSA a Cal Grant: If you received a Cal Grant
1. Visit www.fafsa.gov or studentaid.gov at your previous college, you will need to
to register for your Federal Student Aid I.D. transfer the grant to USC by posting a school
(FSAID). You will be asked to verify your identity
change at WebGrants for Students at
and create a unique login and password. This
login and password will allow you to access all mygrantinfo.csac.ca.gov.
your federal financial aid information and sign AB540-Eligible Students: You must
your FAFSA.
complete the online California Dream
2. You will be asked for information from your Act Application by March 2, 2018. Visit
family’s federal tax returns.
dream.csac.ca.gov to apply. Your GPA
3. You and your parents will also be asked Verification Form must also be submitted
for information regarding any assets. Unlike
to CSAC by this date.
earnings (which are based on what your family
received in 2016), the asset information you
report must be current as of the day you sign Step 4. Provide Additional
the FAFSA. Documents or Information
4. The FAFSA is free. You should never need to Requested
pay to complete a FAFSA. To assist us in our review of your application,
you may be required to submit additional
tax information or other documentation
regarding your family circumstances.
Step 3. Cal Grant
(California residents only): You will be notified electronically of any
Due by March 2, 2018 additional requirements. We encourage
you to submit all documents online via
First-Year and Transfer Applicants our document upload process as soon
Not Currently Receiving a Cal Grant: as possible to prevent unnecessary delays
Submit the FAFSA and have the school in processing your application.
you currently attend or most recently
If your family has special circumstances
attended submit your certified GPA to
you would like us to consider, such as job
the Cal Grant Program.
loss, reduction in salary, or higher-than-
Your school may upload GPA information average, out-of-pocket medical or dental
directly to the California Student Aid expenses, please submit a detailed letter
Commission’s system. and supporting documentation to the
If electronic submission is unavailable, Financial Aid Office.
request that your school certify a paper
Cal Grant GPA Verification form, available
at www.csac.ca.gov.

25
 How It Works:
Financial Aid at USC

Understanding Your Financial Aid Summary

Your USC Financial Aid Summary will inform you of the financial aid you are
eligible to receive, which may include a combination of grants, scholarships,
loans and work-study. We encourage you to carefully consider which types
of aid make the most sense for your situation.

• When you receive your summary, Federal regulations require such awards to be
note how much of the offer is composed counted as financial aid rather than as part
of grants and scholarships versus loans. of the family contribution. In these cases, the
• Note whether your scholarships are university need-based grant may be reduced.
renewable for future years.
• To receive your loans, you will need to
visit studentloans.gov to initiate a
loan application and approval. You will
receive separate instructions to help
you with this process.

Scholarships and Financial Aid

When coordinating scholarships with
financial aid, our office makes every
attempt to preserve any university
need-based grant you may have been
awarded. In most cases, a new merit
scholarship received after your initial
financial aid package will reduce the
amounts of your Federal Work-Study
and federal loans. The total financial aid
may also increase, allowing your Direct
Loan or student loan to assist with the
family contribution.

26
Federal Work-Study Note Regarding Net Price and
To take advantage of Federal Work-Study Comparing Offers
funds, you must be employed at an approved When comparing financial aid offers, be sure
work-study job (up to 20 hours per week). to compare the “net price”—defined as the
You will receive a paycheck for hours worked, total cost of attendance minus all gift aid
according to the university’s pay schedule. (grants and scholarships), before any other
sources (such as loans and employment)
Most all Federal Work-Study jobs will be are applied. Your remaining costs may be
available on the University Park or Health financed with loans, employment and other
Sciences Campus. You may also find resources. All colleges and universities are
opportunities off campus with local non- required to post a net price calculator on
profit organizations, such as the museums their website.
in Exposition Park. If you are awarded
Federal Work-Study, you will be invited to We encourage you to visit our Net Price
a job fair during the fall semester Welcome Calculator at financialaid.usc.edu/npc to
Week to help find the right job for you. help you better understand the cost of a USC
education and determine if you might qualify
Appeals for need-based financial aid. Keep in mind
After you applied for aid, did your family that these calculators are generally based
experience special circumstances that on prior-year figures and may be based on
would significantly affect your ability to limited information.
pay for college? (Such circumstances
You should also compare the types and
would include extended illness, loss of a
amounts of any loans made available to
job or income reduction.) If so, notify the
you. Consider if they are included as part
Financial Aid Office in writing, outlining the
of your need-based financial aid eligibility
circumstances. Include copies of appropriate
or if they will assist in covering the
supporting documentation, if they were not
Expected Family Contribution.
already submitted.

27
 How It Works:
Financial Aid at USC

Covering Your Expected Family Contribution

Even if you receive grants, scholarships and/or loans, you should expect
to pay at least a portion of your tuition and expenses.

There are several ways to manage the Private Student Financing

family contribution: Prior to applying for private
• Use savings or current income to pay financing: Students should exhaust
the USC Cashier’s Office directly. Visit all Federal Title IV assistance available,
sfs.usc.edu/epay for more information. including Federal Pell Grants, Direct
Loans, and the Parent PLUS Loan.
• With the USC Payment Plan. This program The repayment terms of federal loan
enables students to pay for each semester’s programs may be more favorable than the
tuition, fees, university housing and terms of private loan programs.
other student expenses in five monthly
installments during the semester. Visit the While USC does not recommend or
Student Financial Services website at endorse any specific lender, we offer
sfs.usc.edu for more information. a private loan comparison tool, ELM
Select, on our website, which allows
• With loans for all or part of this amount.
you to compare lenders used by USC
Direct Loans borrowers over the past three years.
If you choose to borrow loans for all or You can compare loan fees, borrower
part of the family contribution, start with benefits, and any special promotions
the Direct Parent PLUS Loan. It offers a fixed among multiple lenders. More information
interest rate, requires no collateral and does is available by visiting our website at
not impose an early repayment penalty. Visit financialaid.usc.edu/loans and
financialaid.usc.edu for more information. clicking on Private Financing.
Parents can visit studentloans.gov to initiate In most cases, students who choose to
an application and verify that they meet the borrow a private loan will need a credit-
credit criteria. You may borrow an additional worthy co-borrower.
Direct Unsubsidized Loan to cover part of
the family contribution if your parents are
declined for the Parent PLUS loan.

28
 Online Resources

College Board
bigfuture.collegeboard.org
College and scholarship search
College Navigator nces.ed.gov/collegenavigator
A free consumer information tool from the
National Center for Education Statistics.
Consumer Financial Protection Bureau www.consumerfinance.gov/paying-for-college/
Financial Aid Comparison Tool compare-financial-aid-and-college-cost

CSS/Financial Aid PROFILE Application profileonline.collegeboard.com

Free Application for Federal Student Aid
www.fafsa.gov (To apply online.)
(FAFSA)
Direct Student and Parent Loans studentloans.gov
(To manage your Direct Loans or to sign
Master Promissory Notes online.)
Federal Student Aid Information studentaid.gov
529 Plans www.collegesavings.org (Click on “529 Basics.”)
Fund Your Future: Grants, Scholarships,
Loans and Other Financial Aid for College www.csac.ca.gov
(Published by the California Student Aid
Commission.)
Internal Revenue Service (I.R.S.) Publication 970, Tax Benefits for Education
www.irs.gov/publications/p970

Private College 529 Plan www.privatecollege529.com

Scholarships www.CollegeNET.com, www.fastweb.com

www.finaid.org, www.scholarships.com
www.schoolsoup.com
State Grants www.ed.gov/sgt

USC Student Financial Services

(Information regarding the USC Payment sfs.usc.edu
Plan and USC Prepayment Plan.)
Investing in Your Future: Financial Aid
and USC financialaid.usc.edu/investing
(For a downloadable PDF of this brochure.)
Invertir en su futuro: Ayuda financiera y USC
financialaid.usc.edu/spanishinvesting
(For a downloadable PDF of this brochure in Spanish.)

29
C
 The University of Southern California admits students of any race, color, national origin, ancestry,
religion, gender, sexual orientation, age, physical disability or mental disability to all the rights,
privileges, programs, and activities generally accorded or made available to students at the
school. It does not discriminate on the basis of race, color, national origin, ancestry, religion,
gender, sexual orientation, age, physical disability or mental disability in the administration of its
educational policies, admissions policies, scholarship and loan programs, and athletic and other
school-administered programs. The University’s full nondiscrimination policy can be found on the
Financial Aid Office Web at policies.usc.edu.
FAD-101- 9/2016

University of Southern California In compliance with Section 504 of the Federal Rehabilitation Act, the university provides reasonable
Los Angeles, CA 90089-0914 accommodations for students with disabilities. The university’s Section 504 Coordinator is the USC
financialaid.usc.edu Office of Equity and Diversity. For more information, contact the 504 Coordinator at [email protected]
or visit equity.usc.edu. C
Investing in Your Future:
Financial Aid and USC
2018
 TABLE OF CONTENTS

Introduction 2

Funding Your College Education 4

Resources 5
Family and Student Savings 6
Grants 6
Employment 7
Scholarships 8
Understanding and Managing Loans 11

How It Works: Financial Aid at USC 18

About USC 18
USC at a Glance 19
Sources and Amounts of 21
Financial Aid Awarded
Need-Based Financial Aid 22
How to Apply 24
Understanding Your Financial Aid 26
Summary
Covering Your Expected 28
Family Contribution

Online Resources 29