I have a lot of questions (Out of state finances)

Paying for College
1

<p>Ok, here is a little bit of background information:</p>

<p>-I am 17 years old right now and I don't turn 18 until July
-My parents have told me that they plan on kicking me out of the house when I turn 18 and they won't be able to help me at all with college (long story)
-My dream would be to go to Arizona State and end up getting my MBA in their business program
-I filled out the application a couple of months ago, but I haven't sent the app fee or any of my transcripts/test scores</p>

<p>So, pretty much my plan is to become financially independent when I turn 18. I have been making some money online for the past few months and I plan on getting a job within the next couple of weeks and work a lot between now and the end of the summer. I only have 3 classes in the 2nd semester, so I will have extra time to work more. </p>

<p>However, this isn't going to be enough to pay for tuition, room/board, food, extra things, etc...Especially since I will be a non-resident my freshman year. So, I am looking at getting as much money in grants, scholarships, and loans as I can to payoff tuition and room/board, then I can use my money that I am saving up now plus any money I make while attending ASU for food and other needs. </p>

<p>My questions:</p>

<ol>
<li><p>How much will I be able to get as a financially independent 18 year old in grants?</p></li>
<li><p>I saw that I can earn up to around $9k in stafford loans if I am an independent freshman. Is this true and would I qualify for this amount in a loan?</p></li>
<li><p>Other than a Stafford loan, what other loans will I be able to get by myself at 18?</p></li>
<li><p>How do I become financially independent? I pretty much will be independent financially because I will be living on my own no matter what and my parents won't be helping me out with any finances...however I need to make sure I get the status as independent so I can get the extra benefits in loans and grants.</p></li>
<li><p>I saw that the FAFSA deadline is June 30th, but I won't be 18 until July. How do I get around this? I know if I am financially independent, I have to contact ASU and go over some things with them, since my parents won't give their tax information and stuff, but what do I do in this situation? Since I will still be 17 at the deadline.</p></li>
<li><p>Is this all possible? I know everyone will say just to go to CC for two years, then transfer or to apply as many places as I can in state to get cheaper admissions. But, either I tried that or I don't want that. I don't want to go to CC and I haven't been accepted to any in state colleges I applied to (UCF, FSU, FGCU, etc...). I feel like I can get accepted to ASU and be able to support myself. Plus, Arizona State has been my favorite school for a while now and they have a great business school.</p></li>
</ol>

<p>Please help.</p>

2

<p>You will not be independent for FA purposes. Until you are 24 (or married, have a child, are an army veteran etc) you are considered a dependent of you parents for FA purposes. Being financially independent does **not **make you independent for FAFSA.</p>

3

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<p>Let’s start with this…it will NOT be easy for you to become an independent student for financial aid purposes. LOTS of kids have parents who will not pay for college. This is not a reason for declaring a student independent for financial aid purposes. You would need something MUCH more compelling to have a a financial aid officer of a school declare you as independent for financial aid purposes.</p>

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<p>ASU is a public university in ARIZONA. You are not a resident of that state. It his highly unlikely you will get aid sufficient enough to cover your costs of attending that school at OOS costs. This would be the same whether you were independent or dependent.</p>

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<p>You would only qualify for that extra Stafford loan IF you can gain independent status for financial aid purposes. </p>

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<p>None, unless you have a cosigner.</p>

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<p>This is done by being an orphan or ward of the state, being married, supporting a dependent child, being an emanicipated minor, being a veteran, having a bachelor’s degree, or being 24 years old…or older. Unless you can answer YES to one of those, you more than likely will NOT be independent for financial aid purposes.</p>

<p>The other thing you need to realize…Arizona State is a PUBLIC university. The vast bulk of their financial aid is in federally funded programs…even the FULL amount of federally funded aid will NOT pay the full cost of attendance for you as an OUT OF STATE resident attending an Arizona school. You cannot establish residency WHILE you are attending college in Arizona. For undergrad school…it is HIGHLY LIKELY that your state of residence will be the state where your PARENTS reside.</p>

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<p>If you wait until June 30 to do your FAFSA, you will lose out on some aid awards. There are some limited awards…colleges receive a limited amount of money and once it’s gone…its GONE. These include Perkins loans, SEOG and Work Study funds.</p>

<p>Why would you wait to file your FAFSA until July? This really isn’t going to make a difference.</p>

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<p>Were you denied admission to UCF, FSU, FGCU etc? If so, how do you think you are going to get accepted to ASU?</p>

<p>From reading my answers above, you can figure out that I think your plan is NOT going to work. You have a couple of issues…your out of state (and therefore HIGHER) cost of attendance at ASU…and your thought that you can become independent for financial aid purposes. I personally don’t think you have a chance to become an independent student OR to gain instate resident status as an undergrad.</p>

4

<p>Alright, then what do I do to pay for college? Say I do get accepted to a Florida college that I want to go to…my parents still won’t pay for it. If I can take out $5,500 my first year in Stafford Loans, that still wouldn’t be enough to pay for any college around here, because room/board ranges from $7-9k alone.</p>

<p>I researched residency info in Arizona and I believe I read that I would be able to establish residency after one year if I do some things (like get an Arizona license, etc…) and put in an appeal form to prove to them that I plan on being an Arizona resident. Even if I am attending ASU at the time. </p>

<p>Well, for FAFSA I was thinking that I could get a bit extra if I wait until I am 18 and become independent. But, I guess I won’t be able to become independent. There is really no sense in even applying for it right now, because they applied for my sister last year and got $0.</p>

<p>I wasn’t denied admissions from those schools. I just haven’t heard anything from them and it has been quite a while. Plus, I know I don’t have the grades to get into most of them. I just applied anyways. I figured I could get accepted to ASU (my dream school), because their website says all you need is either a 3.0 GPA or 24 on the ACT if you are an out of state resident. I have a 23 on the ACT and I plan on taking it two more times.</p>

<p>Well, it looks like my plan failed. I really don’t know what I am going to do for college now. I will not be going to CC, because I would then have to live at my house for another 2+ years.</p>

5

<p>If you are in good health, you can join the National Guard and get money for college.</p>

6

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<p>Is your sister in college this year? How is she paying for it? The financial aid formulas do (roughly) split the expected family contribution between all of the dependent students in college. I know several students that were full pay until their younger siblings entered college.</p>

<p>How do FL aid programs like Bright Futures work - is it income based? Isn’t there some prepaid thing there too? As MM said, there’s also the National Guard, military educational benefits, Americorps, scholarships, work full/part-time and study part-time.</p>

7

<p>She goes to CC, so it’s a lot cheaper and she got some money from Florida Bright Futures. The rest, she is paying for herself (which isn’t that much). She also earned like $3,000 in total scholarships.</p>

<p>Bright Futures is based off of your GPA and ACT scores. I may be able to get partial Bright Futures, but I am not sure. Either way, it wouldn’t help a lot.</p>

8

<p>It would if you went the same way your sister did - working and at a CC.</p>

9

<p>Take the ACT again to get a higher score. Bright Futures may be the answer you need.</p>

10

<p>MilitaryMom–my DS wants to join the National Guard for this very purpose. How dangerous is it? Are Guard members often in harm’s way? (Sorry…I’m a woooss.)</p>

11

<p>ASU1102, sounds like a tough situation. Best wishes and prayers!!!</p>

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<p>National Guard members ARE being called up to work in forward locations. It is part of the agreement and a very real possibility.</p>

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<p>My cousin is a long-time Guardsman and has been deployed on numerous occassions. The danger factor probably depends on what their job in the Guard is…he’s a medic, so not too dangerous or his wife and kids would never let him continue!</p>

14

<p>So, I guess this plan is out of discussion for me now unless anyone has any other ideas. I don’t really plan on joining the military or National Guard or anything either. </p>

<p>Does anyone know the residency information for the state of Arizona? I read it, but I’m not sure exactly what it is saying. Would I be able to establish residency after 1 year? Could I establish residency while attending a community college? Odds are I can’t, just like every other plan I have had…but, if somehow I could, then maybe I would go to CC in Tempe for a year, then transfer to ASU my sophomore year with the tuition lowered.</p>

15

<p>If I am reading it correctly, it looks like it would be difficult for you as an 18/19 year old to establish Arizona residency on your own… I think the issue may be how they decide whether or not you are an “independent student.” If they mean for FAFSA purposes you would likely not qualify until you were married, 24, a parent, in the military or a veteran. If they mean in terms of living in Arizona for 12 months, and being completely self supporting for 24 months, possibly. This is a question for the university.</p>

<p>Even if you can become independent for residency purposes you likely will not be for financial aid, unfortunately. I could be wrong, however. </p>

<p>All the best to you! :)</p>

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<p>Residency Information for Independent Students</p>

<p>Students must clearly and convincingly demonstrate that they meet the requirements set by ABOR policy and applicable state laws in order to be reclassified as an Arizona resident for tuition purposes:</p>

<pre><code>* Physical Presence (12 Months/Domicile Year) (You must be at least 18 years of age at the beginning of the domicile year).
Students must document that they have been physically present continuously in Arizona for the twelve (12) months prior to the semester for which they are requesting residency. This twelve (12) month period is referred to as a domicile year. Previous time spent in Arizona does not count towards physical presence, only the twelve (12) months immediately prior to the semester for which students are requesting residency is relevant. Note: Twelve (12) months of bank statements and pay stubs for domicile year may be requested to assist with the verification of continuous physical presence.

  • Intent to Establish Arizona as the Permanent Home
    Students must couple their physical presence within Arizona for twelve (12) months with clear, convincing, and objective evidence of their intent to make Arizona their permanent home and that they have severed ties with their previous state. Actions used to indicate intent must be accomplished at the beginning of, and maintained throughout, the domicile year. Any delay may be considered as evidence of the lack of such intent.

        a. Financial Independence
    Students must show that during the previous two tax years they have not been claimed as a tax dependent on anyone's taxes and that they had reasonable self generated income to meet all their own tuition and living expenses. All financial ties to outside sources must be severed, including health and auto insurance. Reliance upon non-Arizona resources for financial support is an inference of residency in another state and may be a reason to deny a request for Arizona residency. Students are generally not considered financially independent during the tax years that they are in high school regardless of how taxes are filed. [HAVE YOUR PARENTS CLAIMED YOU ON THEIR TAXES AS A DEPENDENT?  WILL THEY THIS COMING YEAR?  DO THEY PAY ANY OF YOUR EXPENSES? WILL THEY?]    

    b. Arizona Driver's License and Motor Vehicle Registration
    State law requires that legal residents of Arizona obtain a drivers license or state identification card in addition to registering any vehicle they operate in Arizona immediately. State law does not allow for a grace period.

    c. Other Indicators of Intent
    Other indicators of intent to establish Arizona as a permanent home include paying and filing of Arizona state taxes, and the transference of banking and all permanent addresses to Arizona. The ownership of property will not grant residency for tuition purposes.

    A student must couple his or her physical presence within Arizona for twelve months with clear and convincing objective evidence to make Arizona his or her permanent home. Actions used to indicate intent must be accomplished at the beginning of, and maintained throughout, the domicile year. Any delay may be considered as evidence of the lack of such intent.
    </code></pre>

<p><a href=“http://students.asu.edu/residency-classification-categories#Dependent[/url]”>http://students.asu.edu/residency-classification-categories#Dependent&lt;/a&gt;&lt;/p&gt;

16

<p>This appears to be the criteria you would need to meet…seems pretty clear:</p>

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<p>You would have to come up with enough money, on your own, to pay all of your expenses for two years (and be prepared to document this). Your parents can’t claim you as a dependent on their taxes for that time and apparently you can’t leave the state of AZ for a year prior to the semester you’re requesting classification for. I’m sure there are other things, such as registering to vote, getting an AZ license, etc. that would be needed to demonstrate intent. May be possible…certainly won’t be easy though! I think it would be extremely unusual for an 18 yo to attend school full time while simultaneously earning enough funds to be completely self-supporting at the same time.</p>

17

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<p>Yes…and if you plan to do this WHILE you are a student, you will have to show evidence that you earned enough money to pay your OUT OF STATE costs…as you will NOT be an instate resident for tuition purposes.</p>

<p>And that only solves half of your question. You MIGHT (MIGHT) gain instate residency status BUT you will not be independent from your parents for financial aid purposes. In addition, if you can earn the $$30K plus for OOS costs PLUS your living expenses to live in AZ (while you establish “residency”) your income will be added in on the FAFSA and your EFC will go UP.</p>