Financial Aid Eligibility With Unique Circumstances

Paying for College
1

<p>Hey all,</p>

<p>I am a NJ resident and would please appreciate guidance. I have a rather unique situation, and am wondering how best to proceed.</p>

<p>My brief story: Shortly after graduating high school at age 18, I developed two chronic non-contagious medical illnesses for which I required constant medical intervention and prescription medication. The conditions were so bad I could not work nor pursue advanced education. During my senior high school year, I was accepted to two colleges and started a semester at one of them, but could not proceed due to the worsening of the conditions.</p>

<p>I am now 31 years old. Two years ago, my physicians and I were able to bring them under control to a point where I can now function more productively, yet I still require constant physician monitoring and prescription medicines. After this ordeal, it was hard to decide where to start considering it is rather late in the game by most standards. However, after much soul-searching and thought, I am interested to pursue a career in Psychology.</p>

<p>I have evaluated nearby colleges, and have selected some state colleges as potential options. I would live off-campus. However, I have a rather unique financial situation.</p>

<p>Over the years, my grandparents and other relatives gave me gift money which I saved in a bank account. I have led a very frugal no-frills life. BUT, the money in the accounts is used extensively for health insurance, physician bills, and medications all of which I need to live a close to normal life. Unfortunately, I have only been able to secure low-wage part-time jobs, due likely to my lack of work experience and the continued poor job market. I can prove all of this should I be required to do so.</p>

<p>There is approximately $40K in this account. Of course, I can use a portion of this for tuition and fees. But due to the necessity for funds for my ongoing medical conditions, as well as general daily expenses, I cannot possibly commit the entire account balance.</p>

<p>I have not yet filed the FAFSA. What is the best route to pursue a college education considering these unique circumstances?</p>

2

<p>You can request a special circumstance review from each college, although you won’t get the answer until shortly before classes begin, most likely. You would provide the college with documentation of your ongoing medical expenses (detailed information). Typically, the school would exclude from your income the amount of your medical bills over & above the IRS medical deduction threshold. This doesn’t help you, since your issue is the assets that need to be available for medical costs. It wouldn’t quite fit the professional judgment guidelines to simply ignore assets, but you never know what the school might choose to do with proper documentation.</p>

<p>You would be eligible for $12,500 in Direct Loans as a freshman, regardless of how much you have in assets. If this will pay your costs, at least you know you can borrow to cover the costs.</p>

3

<p>You might want to consider starting at a CC. It would keep the costs low and allow a less stressful re-entry into student life.</p>

4

<p>How much do you earn? If it’s low enough, then your assets won’t count at all.</p>

<p>I do agree with the idea of starting at a CC. Keep the costs low for the first 2 years so you don’t have to borrow much. You really don’t want to have much debt when you graduate in your mid-30s.</p>

5

<p>Thank you for the responses so far. And any more advice is certainly welcome.</p>

<p>My earned income last year was below $8,000. And I have looked at community colleges, but I’m not seeing any with decent Psychology programs. This is why I’m looking at NJ state colleges, such as Montclair State University.</p>

6

<p>I would recommend looking at community colleges that have articulation agreements with Montclair state (probably all of them do). This way you can gen all of the gen ed requirements done at community college less expensively. Get your associates, so that you can be guaranteed admission and you would have a clean transfer of all of your credits to Montclair state.</p>

<p>[State-wide</a> Transfer Agreement](<a href=“http://www.ccm.edu/studentLife/CampusServices/TransferResources/TransferAgreement.aspx]State-wide”>http://www.ccm.edu/studentLife/CampusServices/TransferResources/TransferAgreement.aspx)</p>

7

<p>colleges, but I’m not seeing any with decent Psychology programs</p>

<p>Well, that could be because CCs don’t offer upper division classes which largely define “good psych programs.” It’s hard to have a good psych program without any 300/400 level & graduate-level classes.</p>

<p>It’s irrelevant how “strong” a psych program is at a CC. That’s not where you’ll be taking the serious psych classes. You’re expecting too much from a CC. </p>

<p>The first two years of college you’ll largely be taking Gen Ed/Core classes…not psych classes. Save your money, avoid debt, and go to a CC first…one with an articulation agreement with your desired college.</p>