Financial Aid For Independent Student

[Simson1]

<p>When I go back to college for my bachelor's--I have an associate's now--I'll be considered an independent student for financial aid purposes. I know that the first year, my financial aid reward will dependent on my income and assets. But what about the second year? While in college, I intend not to work, living off my moderate-sized savings. Does this mean that I can put my income as nil, listing only my assets, and receive a reward that is much more substantial than the one from the first year?</p>

[thumper1]

<p>It depends on your college. Most schools do not guarantee to meet full need for their students. </p>

<p>Are you over 24? Is that how you are independent?</p>

[Waverly]

<p>Only if you attend a very top college that meets 100% of need for transfers. Very few do. Some state schools may also have grants for transfers.</p>

[Simson1]

<p>I will be over 24 when I go back to school, yes.</p>

<p>What is a typical “need percentage”? Where can I go to find out?</p>

[mom2collegekids]

<p>Typical need percentage means nothing.</p>

<p>You’re a transfer, they often get the worst aid. Plus, not everyone has the same need, so for some people a 5500 loan meets need.</p>

<p>you’ll probably get about a 11k loan …doesn’t sound like you’ll qualify for Pell.</p>

[sybbie719]

<p>You also need to check with the school because while you may be an independent student for federal aid, you may not necessarily be considered an independent student for institutional, school based aid.</p>

[Simson1]

<p>“you may not necessarily be considered an independent student for institutional, school based aid.”</p>

<p>What criteria are used to determine this?</p>

[sybbie719]

<p>At many schools that give their own institutional aid, if you start as a dependent undergraduate student, you will finish as a dependent undergraduate student regardless of age, having children or marital status.</p>

<p>For example: at USC OP will be considered dependent on parents regarding institutional aid from USC. </p>

<p>While OP may be independent, regarding Federal aid, s/he will need his parent’s information to get institutional aid from USC.</p>

<p>USC states the following:</p>

<p>

To be considered independent for purposes of awarding university financial aid, undergraduates must meet one of the following conditions:</p>

<p>You are at least 26 years of age before January 1 of the award year you were admitted to USC.</p>

<p>At the time you complete your FAFSA, and at the time of entry to USC, you are married.</p>

<p>At the time you complete your FAFSA, and at the time of entry to USC, you have children who will receive more than half of their support from you during the award year and the summer preceding the award year</p>

<p>You are an orphan or ward/dependent of the court</p>

<p>If parental information is required when you are admitted to USC, you will be required to submit parental information throughout your enrollment at USC, regardless of your age, marital status, or other changes in circumstances (excluding the death of both parents). </p>

<p>If you feel, however, that your particular situation would justify independent status, you may submit a written appeal. Appeals should explain your circumstances in detail and include supporting documentation.</p>

<p>[USC</a> Financial Aid - Applying & Receiving Financial Aid - Special Circumstances - Factors We Will Consider](<a href=“http://www.usc.edu/admission/fa/applying_receiving/special/dependencystatus.html]USC”>http://www.usc.edu/admission/fa/applying_receiving/special/dependencystatus.html)

</p>

<p>at Cornell</p>

<p>

ndependent Students</p>

<p>If you are admitted to Cornell as a dependent student, you will remain as such for your time at Cornell. Even if you are considered independent for federal student aid, Cornell may consider you to be a dependent of your parents when determining institutional aid eligibility.</p>

<p>Cornell will consider you to be independent if:</p>

<p>you are a non-traditional student and have been self-supporting for more than five years; or</p>

<p>both of your parents are deceased; or</p>

<p>you are a ward of the court</p>

<p>If any of these situations apply to you, please contact our office to discuss your individual circumstances. You will need to request the application for independent student consideration.</p>

<p><a href=“http://www.finaid.cornell.edu/special-circumstances/family-circumstances[/url]”>http://www.finaid.cornell.edu/special-circumstances/family-circumstances&lt;/a&gt;

</p>

[sybbie719]

<p>The university of chicago states the following:</p>

<p>

What if I am financially independent of my parents?
You may be considered an independent (self-supporting) student by federal and state program guidelines, but for purposes of awarding University of Chicago grant assistance, we have a more restrictive definition of independence. </p>

<p>To be considered independent, you must be at least 24 years of age by December 31 of the award year (December 31, 2011, for the 2011–12 academic year).
In addition, you must provide proof to the Committee on College Aid that you have been self-supporting for the past three years and the current calendar year, and that you will be self-supporting in the calendar year following your enrollment in the College.</p>

<p>NOTE: If you enter the College as a dependent student, you will be considered a dependent throughout your undergraduate years. </p>

<p>Are there any exceptions to these rules?
If you do not meet our definition of independence but you are an orphan or a ward of the court, you may be considered self-supporting by the University. </p>

<p><a href=“http://collegeaid.uchicago.edu/files/1112_brochure.pdf[/url]”>http://collegeaid.uchicago.edu/files/1112_brochure.pdf&lt;/a&gt;

</p>

<p>Will you be able to prove that you have received no support from your parents over the past 3 years (they have not paid for your school, they did not claim you on their taxes, etc?)</p>

<p>IN addition, the school does do database reviews (they can probably look at your past FAFSA):

</p>

<p>Database Reviews
The following are among federal agency databases reviewed by the Department of Education to confirm some
of the information on your FAFSA form:
Social Security Administration for confirmation of Social Security numbers and U.S. citizenship status;</p>

<p>Selective Service System for confirmation of Selective Service registration status, if applicable; </p>

<p>and
Department of Homeland Security (formerly Immigration and Naturalization Services) for confirmation of eligible noncitizenship status, if applicable.</p>

<p>If data you provided on your FAFSA does not match the data at these agencies, the Committee on College Aid will ask you for additional documents to verify that the information on the FAFSA is, indeed, correct. </p>

<p>Examples of documents that you will be asked to provide are a copy of your passport to confirm that you are a U.S. citizen and a copy of the Selective Service acknowledgement card to confirm that you are registered with Selective Service.</p>

<p><a href=“http://collegeaid.uchicago.edu/files/1112_finance.pdf[/url][/quote]”>http://collegeaid.uchicago.edu/files/1112_finance.pdf

</a></p>

<p>I think it would be a non-issue at Columbia because they state:</p>

<p>

</p>

<p>I have taken some time off from school. May I still apply as a transfer?
Potential applicants to Columbia College **who have taken a break of more than a year in their education<a href=“with%20the%20exception%20of%20those%20who%20must%20complete%20national%20military%20service”>/b</a> should consider instead Columbia’s School of General Studies; the same is true for students who wish to attend a part-time program. Applicants to The Fu Foundation School of Engineering and Applied Science should proceed with this transfer application regardless of any break in schooling.</p>

<p><a href=“http://www.studentaffairs.columbia.edu/admissions/applications/transfer_faq.php#22[/url][/quote]”>http://www.studentaffairs.columbia.edu/admissions/applications/transfer_faq.php#22

</a></p>

[Simson1]

<p>I appreciate all the info., sybbie719.</p>

<p>Anyone else have anything to say?</p>