Hopefully someone here can help. If I’m a financially independent student of 26 years of age that is a resident for California purposes, can I receive money as a present from a family member and still keep my residence status?
An uncle wants to give me 5k as gift to help me out while I’m in school. Of course I’d like to accept it but I don’t want to break UC’s rules. If one is above 24 years of age financial independence is inferred, but do I still need to follow the rules for financial independence? Could they ever strip that classification away from someone over 24
Maybe I’m over thinking things…tbanks in advance
https://www.ucop.edu/general-counsel/_files/ed-affairs/uc-residence-policy.pdf#page=13
Exception 2B under Financial Independence states: “The financial independence requirement will not be a factor in the residence determination if the student is 24 years of age by December 31 of the calendar year of the term for which a resident classification is requested”
@HeyItsNick thanks for the reply. i’m taking that as since im above 24 years of age i do not need to adhere to the UC’s rules of financial independence and can accept money from others w/o being penalized
whats everyone think?
Because you are older than 24, the financial independent part of residence status would not apply to you. You can accept that $5000.