question on moving out

Paying for College
1

<p>i'm making this thread on a whim. it's very tentative, but i am thinking of moving out by next summer (by the month of june 2009, when school is over). i go to a community college and my parents take care of the expenses. after i move out, i will be completely financially independent.</p>

<p>i will save up a few grand by the end of this school year ($2-4K). i have a credit card and plan to build up my credit (by the time i move out i will probably still have very little credit history). then during the following summer i will move out to live with other people (hopefully pay a low/no rent) and save up more money (but at a slower pace since i will be financially independent). during my second year of community college, i will take care of expenses with a part-time job and my savings if i have to. </p>

<p>after my second year of community college, i will work full-time over the summer and build up my savings even more (another $1000 or so). the following year i plan to transfer to ucla and take out a loan ($10000, or whatever necessary to cover expenses) and use the loan for expenses, and do this again for the 4th year of college (2nd year at UCLA).</p>

<p>tell me what can go wrong with this.</p>

2

<p>Independent by FAFSA's definition is not the same as financially independent. In order to be considered independent for college purposes you basically have to be age 24, or married or have a dependent or be a veteran or have a court have severed your parents' ties to you in addition to actually be financially independent of your parents.</p>

3

<p>You'd need to check with CA finaid, but it's likely you will NOT be considered an independent student. Agreed with cptofthehouse about that one. </p>

<p>Are you an instate resident of CA?</p>