<p>I have one daughter who is a junior at a small liberal arts college in NY and another who is a junior in HS. With regards to my younger daughter...
She will begin college about 3 months before I'm eligible for an early retirement from my job. I'm looking at the schools she's thinking of attending and several of them are state schools that have one tuition for in state residents and another for out of staters. The issue that comes up is that I'm thinking of moving if I retire and am wondering about the requirements to establish residence.
In one case, the school is in my current state and we would get resident rate for the first year, but if we move out of state, what would happen?
In the second case, the school is in the state we're thinking of moving to! So, the first year would be out of state rate, but at what point might we qualify for 'in state'.
I realize that these questions probably depend on the schools and the states in question, but I'm just wondering if anyone has been thru this? Oh... guess I should mention the two states involved are California and Washington. </p>
<p>On a second, but related issue...
If I take the retirement, my income will drop drastically from year one to year two, but my income taxes might not reflect that till year three. How understanding are the finaid people about changes such as this? Does it make a difference that this is a choice I'm making compared to being layed off or something like that? Anyone had this kind of situation?
Thanks in advance for any replies!</p>
<p>You're right - the answers will depend very much on the schools. You should be able to find out the specific information from the schools she's interested in - either somewhere buried in their website or by contacting the bursar's office.</p>
<p>We'll be in a somewhat similar situation, although for different reasons. We currently live in Indiana but will move to Michigan for job-related reasons as soon as our son graduates from high school. Purdue (in Indiana) will give him in-state tuition for his entire college career as long as he qualifies as an in-state student on the first day of classes and he attends continuously (i.e. no semesters off, summers don't matter). He was interested in University of Michigan at one point and their policy is more lenient for those currently in state - as long as you are in state as a high school junior, you'll be considered an in state resident for tuition purposes. I like this because it doesn't penalize the kid who lives there most of his childhood but mom and dad move away senior year. Conversly, though, establishing in state residence for us would be difficult when we move there. He would definitely have to pay out of state tuition the first year and the appeals process thereafter seems quite complicated.</p>
<p>Long story short, contact the schools you're interested and get the real scoop from them.</p>
<p>Appreciate the reply... and interesting that they are fairly liberal about it. If Freshman year establishes residence it would be great for me assuming she chooses a Cal college! I realize they aren't all the same, just hoping for the kind of answers you gave. I'll contact the colleges when it gets a touch closer. Thanks again!</p>
<p>Some states will consider relocating retirees' children immediate residents so checking with the college is your best bet. North and South Carolina did when we checked it out 2 years ago.</p>
<p>for UC in-state tuition, you need to be a resident for a full year prior to matriculation and there's 'no questions asked'. If you move to Calif within 12 months of your D's matriculation, you can appeal for in-state tuition, which might be granted as long as you have a permanent residency in Calif. Thus, if you permanently relocate to Calif after her first semester/qtr., you could appeal for in-state residency second semester/qtr. Call the UCOP office in Oakland and they can advise you officially.</p>
<p>There are some recent legal cases involving treatment of newly arrived instate residents and how they should be treated like any other resident; but historically, each state has its own rules. Basically if you are in the state with intent to stay, and prove that by taxes, voting, employment, you get the instate discount. Some institutions may require proof of residence at matriculation and not subsequently (the state grad school I went to only verified residency at time of application), but don't count on it. The rules may be on each state college's website.</p>
<p>why would you take early retirement if you have tuition to pay for?
Some of us are not counting on being able to retire ever.
Should our kids be eligible for less finaid?</p>