USC(The University of Southern California) has a new plan for families whose incomes are less than $80,000 a year.
Here’s what you need to know.
USC announced two significant changes to its financial aid plan, which will make college more affordable for low-income families. The changes, which will start for undergraduates beginning in Fall 2020 and spring 2021. It includes:
- Families whose annual income is eighty thousand ($80,000)or less will attend USC tuition-free
- Owning a home will not be included in the calculation used to prepare a student’s financial need.
USC President Carol L. Folt said that he was opening the door wider to make a USC education possible for talented students from all walks of life. That significant step he was taking that day was by no means the end of his affordability journey. He was committed to increasing USC’s population of innovators, leaders and creators regardless of their financial circumstances. Investing in the talent and diversity of his student body was essential to his educational mission.
The University of Southern California will be going to increase undergraduate financial aid by more than $30 million annually. The University of Southern California announced that it would help around 4,000 students with financial aid assistance. USC said that every year, USC’s undergraduate students get more than $640 million in financial aid for tuition and fees. According to the university’s website, each deserving undergraduate student will get up to $45,000 in financial aid.
Cost of USC Annually
According to USC’s cost and financial aid website, an estimated cost of undergraduate of two-semester would around $57,256 for 2019-2020.
Adding fees, housing, books, supplies, meals, transportation and miscellaneous costs increases the total to $77, 459. And in the case of students living with parents or relatives costs $64,715.
In comparison, it would cost around $36,100 for a California resident undergraduate living on campus is $36,100. The estimated annual cost for a student living off campus averages is $33,200.
According to USC, about two-thirds of USC undergraduate students get financial aid, and almost 21% come from low-income families.
USC Provost Charles F. Zukoski said that with that new initiative, he would be even better positioned to recruit students from all backgrounds and strengthen The University of Southern California experience for everyone.