<p>For financial aid, do colleges account for the high cost of living for some areas such as Hawai'i?</p>
<p>Yes, the room and board represent actual costs available on campus at that college. Some colleges will also give you an estimated COA based on off campus room and board. Personal expenses may be likely to cover incidentals. But, it will not cover all the off campus things you may like to do. And clothing. And dorm room set up. Travel is also one area where your actual cost may exceed estimate. </p>
<p>@BrownParent I mean as a student from Hawai’i applying for financial aid at mainland universities.</p>
<p>I have never seen an aid calculator that asked where you live, so I doubt it.</p>
<p>Well…sort of. If your location has higher property taxes, that will be reflected in your tax return as a deduction, and your AGI will be a little lower.</p>
<p>But JUST the fact that you live in a high cost of living area…well…no.</p>
<p>The FAFSA calculations do for state and local tax differences.</p>
<p>Not directly, as others have said. </p>
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Isn’t the AGI is before the Schedule A deductions?</p>
<p>Hmmm…yes that is true. But your state taxes and local income taxes, if any, WOULD be reflected in your AGI, right?</p>
<p>So colleges don’t account that a family income of 100k in Hawai’i is not the same as 100k in say Iowa?</p>
<p>Some Profile schools do.</p>
<p>I’ve yet to see one. Which schools have you see do this, Sweetbeet? I’ve yet to see one and I’ve been looking at these things for a long time, and I live in a very high COL area. It’s just too bad.</p>
<p>Can’t remember if it was USC or University of Denver. Those are the 2 my S applied to, and it was one of them. Hard to say now, since Denver met our full FAFSA need (very low EFC) and he was not accepted at USC. But one of them told us that they did take that into account. I think it was USC.</p>
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No they would not. Adjusted Gross Income is all income BEFORE itemized deductions. And if you don’t itemize, state and local taxes would never be reflected. Even if they were, that has nothing to do with cost of living.</p>