<p>Ok, so it's my first semester in college. I'm going to a private college, so it's expensive, but financial aid and scholarships are helping. At the beginning I thought I was going to live on campus but I had to cancel due to family reasons so now I commute and for some reason that screwed up my financial aid. Now I have to pay an extra $1000 that I didn't know I had to pay each semester. I have a part time job, but it's seasonal so I have no way of making money over the summer. My question is, if I were to take off a year from school to work in order to save up money, will this screw up my financial aid even more? Or would I just have to reapply for financial aid once I start going to school again?</p>
<p>If you take a year off, you will need to reapply for aid - since you need to apply for aid every school year regardless. Did you get an explanation as to why your aid was adjusted after switching to living off campus? Did you speak to the financial aid office? </p>
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Depending how much your savings will increase you EFC, your financial aid may be reduce further.
You have to apply for financial aid every year that you’re attending school.</p>
<p>Why do you have no way of making money over the summer?</p>
<p>You should know that financial aid cannot exceed COA. When you live at home your COA is greatly reduced from dorming. Living off campus but not with parents is often the same COA but sometimes different by a little… So I am surprised that your aid package wasn’t reduced much more if you are commuting from home, you are lucky.Savingsin your bank account will be assessed at 25 percent. </p>
<p>Before you do that you should visit the financial aid office and tell them your problem. Also ask then if your financial aid will still be available if you take a leave of absence.</p>
<p>Usually if one job isn’t available in the summer you go and look or another one.</p>
<p>My job is seasonal, so it only runs between the months of October to the beginning of May, after that there’s only work once or twice a week for 4 hours, not enough hours to save up money for school, and pay rent at the same time. </p>
<p>Also, I do live with my parents, I’m filed as dependent when my mom goes to do her income taxes. I did talk with my financial aid office, and they said it was because I made the last minute decision of not living on campus that it somehow canceled a small portion of my aid. I had argued that I had called months before to let them know I would no longer be living on campus due to family issues and in all my paperwork it still says that I officially live on campus. But, that’s not the point, thanks for all your answers, now that I know I’ll talk a little more with my advisor to see what I will do. </p>
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<p>Solution: find a second job over the summer months. There’s nothing keeping you from doing this, is there?</p>