Catch 22 Income and Financial Aid

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<p>For this statement, meeting residency requirements, means being eligible to obtain a degree from their school. You must be “in residence” at a college for a certain period of time, in order to obtain a degree from that school. This the reason that most schools will not take a student who wants to transfer in senior year, because they will have not met the residency requirements to get a degree from that school.</p>

<p>This has nothing to do with the residency requirements needed to become an in-state resident and pay in state tuition. Op has stated that he has lived in state all of his/her life and would be paying in-state tuition.</p>

<p>With that EFC and from what you have written, you are not eligible for any PELL money. Grants are very hard to get, and though I encourage you to look for them, you are unlikely to get enough to go to school full time unless you live with someone who is supporting you. Do you have family with whom you can live while you get your degree?</p>

<p>Most adults who return to school work full time and go to school part time, taking advantage of lowered summer school costs and shorter terms to cut the time needed to get their degrees. You can play with the numbers and see if you can qualify for full PELL next year by making sure you make less that what is needed to qualify for simplified test for FAFSA. That would give you $5500 of “free” money for the next year along with Stafford loans of close to $12K. I don’t know what the costs are to go full time at the school you have chosen, but it would allow you to cut your hours to part time and to go to school full time under most scenarios. </p>

<p>Are you living on your own right now?</p>

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<p>I would recommend meeting with an admissions counselor and requesting to have your credits evaluated so that you know academically where you stand. If some of your credits are really old, they may not transfer. Also keep in mind that when you apply to grad school, they will require transcripts from every college that you have attended. My concern is that you state that you have tried and failed a couple of times and those failing grades along with some of your emplyment difficulties can (and maybe will ) be held against you in the graduate admissions process.</p>

<p>I would also run the numbers through a financial aid calculator so that you can see how much borrowing 47k will cost you in repayments. If you were to start college today, you would be minimally approximately 57 years old entering the workplace as a counselor, where you have to put in some time before you make any $$. While thankfully people are living longer, you must realistically think about how many viable years you will have in the workforce.</p>

<p>Hi cptofthehouse,</p>

<p>No, I don’t expect to get a Pell Grant but, as you say, it’s worth a try. No, I have no living family members and yes, I am living on my own. For several reasons, going to school part-time is not really a viable option for me. I will be in a program specifically for working adults, which meets much less often in the classroom than traditional programs. This will help in terms of schedule conflicts but pretty much the same workload would apply to studying and homework. </p>

<p>I don’t know what the income threshold may be to qualify for a Pell Grant but I doubt seriously that I could live on little enough to qualify for the highest tier of grants, if any at all. Nevertheless, I will be looking into all available options.</p>

<p>I don’t remember the income threshold for qualifying for partial Pell grant but I know that it’s much higher than $21,000 for a family of one.</p>

<p>Hi sybbie719,</p>

<p>Once I have all my various transcripts, I will be sitting down with an admissions advisor to determine which credits will tranfer. In our discussions of the program, thus far, no one has mentioned the age of the credits as a determining factor in their admissability and yet, I can see how some past curricula may be obsolete.</p>

<p>There have been perhaps, two or three attempts on my part to return to school that were unsuccessful but only one or two where I actually began the program and had to withdraw, primarily due to work conflicts. ln all these cases I withdrew with an “Incomplete”, rather than a “Failing” grade. I don’t know that that and the inconsistent employment history might be regarded for the purpose of the admissions process but thanks to your alerting me to this possibility, I have begun to research this subject with the school staff. Early indications are that the masters program I’m hoping to enter is, in fact, somewhat competitive and so these factors may be germaine to the process and the admissions decision. At this time, I’m awaiting a more definitive answer from the head of the graduate program.</p>

<p>You also make a good point with regard to the cost of the program, my age and projected time frame for beginning to earn a living wage. Financial circumstances being what they are, I will never be able to retire and have never really had this expectation. I will simply work as long as I am able. Though I know that significant health issues can come up unexpectedly, I would think I would be able for a much longer time in this field than “toting that barge” or “lifting that bail”. I would be more likely to be able to afford health insurance coverage in this type of job, so that I could address health issues as they arise and with better outcomes. Also, for me, the way in which I spend my work time is an absolutely critical issue in terms of my health.</p>

<p>My biggest concern would be a scenario where my school loan payments were prohibitively high but here again, I stand a better chance of earning a wage which would enable me to make those higher payments in this field than any other that is available to me. One concern you didn’t mention is age discrimination, which does exist in this field but with less frequency. Apparently, based on my discussions with people already in the field, it varies in its manifestation from one employer to the next. Overall, this is a growth industry and I’m told that the niches and specialities where I have a specific interest and significant life experiences are exploding in terms of a need for employees. It is my understanding from talking to school staff members and students that one can reasonably expect to be gainfully employed soon and in some cases, before completing the program.</p>

<p>Bottom-line is, I can’t continue as I have, bouncing from one deadend job to the next and the scenario I’m currently pursuing is my best and really, only alternative.</p>

<p>Thank you for bringing these issues to my attention! I much prefer to know precisely where the pitfalls lie than to merely hope I don’t fall into one.;)</p>

<p>don’t remember the income threshold for qualifying for partial Pell grant but I know that it’s much higher than $21,000 for a family of one. </p>

<p>:)Thank you, WandMParent!</p>

<p>I’m definitely going to give it a try and see what is available.</p>