Taking a year off before junior year to establish residency

<p>I hope I'm not in the wrong place - this is my first post, so sorry if I am! Just seeing if anybody here might be able to help me out.</p>

<p>I'm currently a student in NC and have wanted to move back to CA for a while, I've been a college student in NC for two years and have lived here for almost five. I'm at a 4 year but I'd like to transfer to CSU Monterey Bay after taking a year off to move to CA and establish residency. I was already accepted to CSUMB this year but should have done more research first on the total cost, as it's waaaaay out of my financial abilities right now. So new plan - move to CA later this summer, spend a year there, reapply for Fall 2013.</p>

<p>I suppose I'll just get to my questions now: I've got a few loans, about 8k in subsidized and 4k in unsubsidized. I've used online calculators to get an idea of what my payments are going to be, but nobody's really been able to give me a more concrete idea (I think it'll come out to apprx. $130 a month), and on top of that, I don't know when exactly my grace period starts. I called my loan servicer and because I suppose I haven't made it clear to anyone yet that I intend to take a year off (do I need to? Would it benefit me in any way?) I was told that payments would begin January 7th, 2015. So I suppose that's assuming I graduate in early June?</p>

<p>And finally, I'm sure you only get one grace period but it couldn't hurt to ask anyway: because I'll be going back to school, will I get a second grace period after I graduate? Or will I have to resume making payments again immediately?</p>

<p>Thank you so much for your time.</p>

<p>I’m going to move this over to the FA & Scholarships forum because your question is about loans and repayment.</p>

<p>Before you move, you need to determine how you’d pay for the instate costs of a CSU if you got residency???</p>

<p>Since you didn’t go to high school there, you’re not eligible for Calif aid. </p>

<p>I think you should stay where you are, finish college and then move. </p>

<p>Besides, Calif CC transfers have priority for admission.</p>

<p>Astr, please talk to those in the know at the Cal states regarding their rules on getting in state residency rates. Read the rules for each school you have in mind v-e-r-y carefully, and then call the school and discuss the situation. There are some schools that make it easier and more possible for establishing in state residency FOR IN STATE TUITION. I am emphasizing the last words because the schools themselves make that determination, not the state rules and not necessarily another state school. You can be a state resident for voting, driving, paying taxes, but not for in state tuition for a given school. Many schools make it nigh impossible unless a parent is living in the state if you are under 24. The rules vary so widely, that until it is researched first hand for specific schools, it cannot easily be determined what the situation is for something like this. I am cautioning you to research carefully so you don’t find yourself losing a year and then still not able to do as you planned.</p>

<p>I researched one California school yesterday and it was 2 years of independently supporting yourself if your parents don’t live in CA. And they asked for a tremendous amount of proof. It read to me that you couldn’t even live with a relative in CA unless you paid rent.</p>

<p>Another thing to consider…</p>

<p>You’ll have to earn so much over the 2 years in order to support yourself, that you wouldn’t even qualify for any federal grants. Your EFC will be too high. </p>

<p>this is just a very bad idea.</p>

<p>Like I said - I was already accepted to the school. I received an award that I didn’t bother to accept because I found out I couldn’t cover the OOS tuition, but the aid should be more than enough. And, again, I’m concerned that I might not be accepted when I reapply, but as I was already accepted once as a North Carolinian I think my chances of acceptance can only get better.</p>

<p>cptofthehouse - I appreciate your concern, and thank you for reminding me to get all of that information! I’ve already looked online at CSUMB’s website and have a pretty solid idea of what I’d need to do to establish residency, and I’m going to call the school again tomorrow to see if anybody else can tell me something more concrete. My legal father also lives in California, so that should help some, don’t you think?</p>

<p>mom2collegekids…how in the world would my EFC be too high? I plan on receiving some help from family and my significant other, and at this point I receive just enough aid to cover tuition so I don’t think I would actually receive less. There’s no way I could make enough to disqualify me for aid. That doesn’t sound right at all.</p>

<p>If you receive help from family members, you will be considered a resident of where ever they are. Finish school in NC and then move to California. (It will still be there.)</p>

<p>To be classified a resident for tuition and fee purposes, a student who is not dependent on a California-resident parent must demonstrate financial independence (total self-sufficiency) for two full years immediately preceding the residence determination date of the term for which the student is requesting a resident classification, in addition to 366 days of physical presence and intent. Relevant documentation to support a finding of financial independence may include tax returns from the student to verify the student’s income and from parents to verify student was not included as a dependent (tax returns amended after admittance to UC are not accepted), student W-2s, two-year budget of income and expenses, apartment rental contracts or leases, copies of all financial documentation (bank statements, loans, trusts, etc.) to verify the sources of the student’s income/savings. The student must have accepted no financial assistance from any individual, including California-resident relatives, during the required two years.

  1. Requirements
    An undergraduate student or a student enrolled in a non-degree program who is not dependent on a California-resident parent will meet the financial independence requirement if he meets the following criteria:
    a. student was not claimed as an income tax dependent by any individual for the two tax years immediately preceding the term for which resident classification is requested (federal and state income tax returns for 2010 and 2011 for the 2012-2013 academic year),
    AND
    b. student is self-sufficient. Student has supported own self with own resources (employment, commercial/institutional loans in student’s name only, financial aid and savings from earnings, all of which require official documentation) for two full years prior to the residence determination date for the term s/he proposes to attend the University</p>

<p>mom2collegekids…how in the world would my EFC be too high? I plan on receiving some help from family and my significant other, and at this point I receive just enough aid to cover tuition so I don’t think I would actually receive less. There’s no way I could make enough to disqualify me for aid. That doesn’t sound right at all.</p>

<p>If that is your plan then you’ll have a problem either way.</p>

<p>If you get help from family, then you can’t be considered independent and a resident of Calif. That means that family can’t pay for your cell phone, insurance, car insurance, rent, tuition, food, anything. </p>

<p>If you do get declared independent from your family, that means that you’ll be earning a LOT of money to cover rent, food, etc. If you have a SO paying for your stuff, then you have to declare that on your FAFSA.</p>

<p>“there’s no way I could earn enough to disqualify myself from aid.”</p>

<p>Wrong!</p>

<p>A single independent person gets hit hard with EFC because there’s an assumption that much of what he/she earns is available for COA. You wouldn’t have the income protections a FAMILY has. A family has income protections because it must pay for OTHERS and also pay for housing that is away from the student. An independent student is only paying for himself, so there’s an assumption that his earnings (beyond about $5k) can go towards college costs. This causes the EFC to jump for a single independent person. </p>

<p>Right now, your aid was based on your family’s EFC. Very different.</p>

<p>What aid did you get from this CSU as an OOS student?</p>

<p>I can’t begin to even advise you or anyone on something so specific, because as I have stated, one needs to know the particular rules and how those rules are enforced at any specific college in terms of in state residency. Just be careful and understand the process before making any leaps.</p>

<p>If your father is a resident, or any parent, it often makes it easier to be an in state resident. However, you may end up being his dependent and have to use his financial information on FAFSA for aid! Yes, they can get you every which way. So do check out all of the pitfalls. If you can make it work, good for you. I just don’t want you hit unawares by some rule or other right out there to see.</p>

<p>Good luck.</p>