Assets…or not…these schools do NOT meet full need for all students.
Are you eligible for SNAP or food stamps?
How much financial aid do you want to get…or need to get??
You bumped your thread, but you haven’t answered any of the questions asked of you.
Where are you an instate resident? FL or PA?
Checking for clarity: You’re a PA resident attending a FL college for nursing, but you’re unhappy. You want to be in FL but your current school wasn’t your first choice. The Univ. of Tampa’s net cost is $18k. Your dream FL college costs $38k. PA colleges would cost you $30k. Your EFC is ~$3750.
Is this money in your name? If so, I don’t understand how your EFC is only ~$3700. When you said with your assets your EFC jumps to ~$15k, that makes sense. I don’t know if having a parental income below ~$50k allows you to exclude assets in your name. If the savings is in your name and was improperly excluded on your last FAFSA, the college will reverse any grants you got based on that and you’ll have to pay them back.
http://www.passhe.edu/answers/Pages/what.aspx
There are nursing programs at many PASSHE schools that cost well under $30k.
If your EFC is $3,000 you would get a partial Pell grant, a PHEAA grant. And you could live off campus to save money.
If the inheritance is really meant for college, you could put the money in a PA 529 account, and it would be considered a parent asset for FAFSA. Parent assets get an asset protection amount based on older parent’s age, and the asset calculation is more favorable. Use an EFC calculator and see how the EFC changes if the money is in a 529 acct and considered a parent asset.
Your parents can also exclude up to $14,000 of PA income each on their PA tax return per year when contributing to a PA 529 I think.
If you had $6,000 in grants and $6,000 in loans, and $45,000 in a 529, you could pay for the last few years of your nursing degree.
Parent income under $50,000 and another qualifier like federal means tested benefit, or parent was eligible to file 1040A, or parent is dislocated worker would qualify them for simplified needs test, which disregards parent and student assets.
Hence our questions to OP.
Yes…hence our questions which have gone unanswered.
Pa resident. called accountant not eligible for 1040A so am changing my fasfa to correct it! Thank you for your help and the post about nursing schools!