Page 2 March 24, 2016 TORRANCE TRIBUNE Financial Aid is Stress Test for Incoming Trojans By Rob McCarthy College-acceptance letters arrive this week and begin tough discussions for students and their parents about which school fits their academic goals, personality and the family’s budget. The University of Southern California will figure prominently into those living-room battles over what teens want and what parents are able to sacrifice for a four-year education. USC is so popular with college-bound seniors that nearly 52,000 applied for admission. The downtown L.A. campus next to the L.A. Coliseum has a student population of 43,000 Trojans and a huge network of alumni and potential employers in greater Los Angeles. What incoming freshman and their families didn’t know when they mailed off their applications last year was that tuition and student fees at USC will top $51,000 by the time those freshmen arrive in the fall. That is the highest tuition of any university - public or private - in the nation, including Stanford University ($46,320) and Harvard ($45,278). Pepperdine in Malibu wasn’t far behind at $49,000 for the current 2015-16 year. None of the schools used for comparisons have announced fall 2016 tuition yet. When word leaked out about a $2,000 increase for next academic year, some students protested. They staged a demonstration inside a USC administration building and demanded a meeting with the provost to air their grievance. University officials have defended the latest 4 percent tuition hike, saying that figure represents a 50-year low and that the actual cost of a USC education is much lower than the new $51,442 figure. What angered student demonstrators more was that USC has raised tuition and fees 4 percent for five consecutive years, meaning that a four-year education today costs $10,000 more than in 2011. USC has not indicated whether it will freeze tuition next year, as students leaders have requested. Whether a USC degree remains affordable isn’t easy to answer. It’s complicated by family finances, a student choice of major, and whether a lucrative job will be waiting after graduation. For an English or a liberal arts major, maybe a less-costly private or local public university is the route to take, according to one South Bay college consultant. “It depends on the degree you come out with,” said Ron Rotenberg, an independent college consultant. “A USC engineering major has a pretty good chance of getting a job.” The cost to attend USC is not the same as what undergraduates actually pay, says university spokesman Robert Perkins. Financial aid, such as endowments and scholarships, pays four out of every 10 dollars in tuition for the average USC attendee, school figures show. “The average cost to a student — commonly referred to as “net price” or “cost of attendance” — is discounted nearly half the amount,” Perkins wrote in an email. A $300 million pool of private financial aid, which is gifted to students and not repaid, funds the discounted tuition, he explained. A USC student graduates with less debt than a student from other private schools. For college consultant Rotenberg, USC is a top-choice school for many of his clients. Admission to USC requires a more-detailed profile of the student’s finances than what public universities review when awarding financial aid. Private schools, including the Ivy Leagues, ask for a College Scholarship Service, or CSS, report. The CSS looks at all possible sources of income for families to tap to pay college tuition, including savings, home and business equity. The majority of universities and colleges rely on the Free Application for Federal Student Aid (FAFSA), which protects a family’s primary home from the equation used to reach what is called expected family contribution. “The goal is getting into the best school at the lowest cost,” Rotenberg said, adding there’s more to the college-selection process than financial aid. A school should be a good fit academically and socially, he said. With 98 percent of freshmen living on campus, USC offers a different college experience than a commuter school. One-third of USC students live in school housing, which costs about $13,500 per year. Books and supplies are about $1,500 per year. Four years at USC easily will reach $270,000. While the housing costs across town at UCLA are equivalent to USCs, the annual tuition at the crosstown rival is closer to $15,000 per year, not including housing, books and expenses. USC provided figures showing that nearly 60 percent of its student body receives private financial aid, which discounts the actual cost of attendance. Private financial aid is not student debt, according to college consultant Rotenberg. It’s a gift from an endowment fund left to the school. “On average, USC gives 75 percent of need in the form of gift aid, which is money you don’t have to pay back. It can be on merit or be a grant.” Rotenberg said. “Not all schools do that.” USC’s level of generosity with private financial aid is rare, exceeded only by the Ivy League schools that will gift 100% of the tuition to a highly desirable applicant. USC officials would rather that prospective students and families know about the university’s deep pockets and history of helping students to achieve a top-flight education that is rewarded with a good-paying job after graduation. The graduation rate for USC freshmen who earn their degrees in four years holds down student debt and family costs. The four-year graduation rate is 77 percent, according to university figures. The graduation rate jumps to 90 percent for five years, and 92 percent by the sixth year. Adding a fifth year adds 20 percent to an undergraduate’s costs of a degree, so choosing a school that offers enough classes to finish in four years is something to consider when the acceptance letters arrive, according to Rotenberg. He knows the conversations that lie ahead for parents who want to give their teens the best education possible. The college-selection process should take into consideration the child’s future and the family’s long-term financial picture, he said. They should sit down before senior year and talk about how much money is available, not wait until the acceptance letters start arriving. Any school that’s out of reach financially, don’t apply there. Parents have emptied their bank accounts and retirement savings and taken out second mortgages on their homes to pay for a child’s top-choice school. Stafford parent loans count as financial aid, and burden parents with an additional loan payment and a less-thanfavorable interest rate. If a child’s major is a high-demand career with a promising annual salary after graduation, then maybe a private university education, including some student debt, is a solid investment. An undergraduate degree isn’t what it once was in the job market. Technical professionals require a master’s degree or a doctorate, so families and students should be clear from the outset about their educational goals after high school. Some families hold students accountable by making them take out student loans, which they must repay if they drop out. “It’s OK to have that leverage,” Rotenberg advised parents. When a student has “some skin in the game,” it’s motivation to finish his or her degree rather than be stuck with student debt resulting from years of college that were wasted. May 1 is the deadline for students to accept a university’s offer of admission. • Police Reports Battery-Simple 3/12/2016 7:00:00 PM 4000 BLOCK 226TH ST Suspect punches victim Auto Theft-All 3/12/2016 7:00:00 PM 4700 BLOCK ASTERIA ST Stolen vehicle: ‘12 Ford van Theft 3/12/2016 3:00:00 PM 18400 BLOCK HAWTHORNE BLVD Suspect(s) pries open bank of mailboxes and takes property/mail Theft 3/12/2016 2:00:00 PM 19700 BLOCK HAWTHORNE BLVD Suspect(s) takes property from purse left in restroom; cell phone, jewelry, wallet Vandalism 3/11/2016 11:00:08 PM 5000 BLOCK EMERALD ST Suspect(s) scratches victim’s vehicle’s paint and flattens one tire Theft 3/11/2016 8:30:00 PM 21200 BLOCK HAWTHORNE BLVD Suspect(s) takes property from victim’s pocket/ wallet Battery-Simple 3/11/2016 5:30:00 PM 900 BLOCK PATRONELLA AVE Suspect kicks and punches victims Robbery-StrongArm 3/11/2016 3:00:00 PM 2700 BLOCK PACIFIC COAST HWY Suspect enters open business, presents demand note and takes property/cash Robbery-StrongArm 3/11/2016 12:43:42 AM 5100 BLOCK CALLE DE RICARDO Suspects brandish hammer demand victims’ property/purse, cash Burglary-Auto 3/10/2016 9:51 PM 17500 BLOCK YUKON AVE Suspect(s) enters unlocked vehicle and takes property; purse Auto Theft-All 3/10/2016 4:30:00 1700 BLOCK CARSON ST Stolen vehicle: ‘99 Honda Civic Burglary-Auto 3/10/2016 3:50:25 AM 5600 BLOCK RIVIERA WAY Suspect(s) enters unlocked vehicles, ransacks and takes property/ GPSs, key, work ID Burglary-Auto 3/9/2016 10:00:00 PM 23100 BLOCK KENT AVE Suspect(s) enters vehicle by unknown means and takes property/guitar • School Board from front page groups, Vision To Learn is able to reach children in need of glasses and have a direct impact by improving elements of the child’s life such as academics. Torrance students who are identified to be in need of eyeglasses will be provided glasses [from a selection made available to them] that are scheduled for delivery four weeks after the exam. The program will also provide where “feasible and appropriate, referrals to the school nurse for additional care where indicated” states the agenda. In addition to the health and academic benefits, a study conducted by Mattel’s Children’s Hospital in 2013 launched an analysis of the Vision to Learn model and determined that “providing glasses in a group setting reduced the stigma associated with getting glasses. Along with allowing kids to pick their own frames, the group dynamic helped to encourage them to wear their glasses at school and at home,” states the Vision to Learn website. Volunteers with Vision to Learn will be fingerprinted, TB-tested, and receive Megan’s Database clearance. Furthermore, this program will be funded through a grant provided by all four Torrance Rotary Clubs, Del Amo, Lomita-Torrance Airport, South Bay Sunrise, and Torrance, at no cost to the District or its students. Family Welcome Enrollment Center to Host Free Dental, Medical Screenings The Torrance School Board approved for the Family Welcome Enrollment Center to host free dental and medical screenings, in addition to medical insurance coverage enrollment for families that qualify. These services are to be covered by Providence Health and Services, Herman Ostrow School of Dentistry and First 5 L.A. Screenings are scheduled to take place during Kindergarten Enrollment Make-Up Day on April 15, 2016, from 8 a.m.-4 p.m. “The Children’s Health and Maintenance Project (CHAMP) is funded through a grant from First 5 LA,” states the board’s agenda. “They currently work in many locations throughout LA County and provide dental screenings, education and dental referrals for children ages 0-5.” The $1 million, three-year grant will make it possible for the Ostrow School of Dentistry of USC to provide underprivileged kids with dental care; that includes access to visit a dentist on a regular basis, as well as allowing the USC School of Social Work to help families in maintain health care at home. Partners for Healthy Kids Mobile Medical Van, whose staff provides free medical care such as health check-ups and immunizations for sick and injured kids, have visited schools in San Pedro, Wilmington, Lawndale and Gardena and will now make it to Torrance. “Providence Little Company of Mary offers health insurance enrollment for qualifying families,” states the meeting’s agenda. “They help families determine if they are eligible for available insurance programs, and assist them with their applications for Medi-Cal, Covered California, and other local health programs for children and adults.” Herman Ostrow School of Dentistry, First 5 LA and Providence Health & Services employees have been screened against Megan’s Law database and are TB-tested. These services will be free of cost to the District and its students. • City Council from front page signed by Transit Director Kim Turner. “Through a series of Memorandum’s of Understanding [MOU] developed with LACMTA, funding was secured for the operation of the service as well as the implementation of a Bus Signal Priority System [BSP].” Due to overlapping jurisdictions outside of Torrance, authorization to perform work at several intersections in other cities or municipalities has at times been challenging and time consuming. As a result the project has been delayed on several occasions, hence making contract extensions necessary for Diversified Transportation Solutions and Iteris, Incorporated of Los Angeles. “Although the majority of the work has been completed, the final testing of the BSP system must be conducted prior to the system being launched,” states the staff report. “No additional funding is being added and all other terms and conditions of the agreement remain the same.” Staff expects for the additional 90 days provided to the contracts to be enough to allow for final system testing and any necessary fine tuning to ensure that signal timing at all intersections outside of Torrance are accurate and synchronized. • Burkley & Brandlin LLP A T T O R N E Y S A T L AW Living Trusts/Wills, Probate, Employment Law, Personal Injury Trust and Estates Litigation, Business Litigation, Civil Litigation 310-540-6000 *AV Rated (Highest) Martindale - Hubbell / **Certified Specialist Estate Planning, Trust & Probate Law, State Bar of California, Board of Legal Specialization
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