college aid question???

[gardenmom5]

1ds has received his aid package- but . . . it is based upon  him not living with us.  becasue when he applied - he wasn't living with us . . .  the only thing we provide, is room and board.

 

there are grants, and there are loans.  the grants should about take care of his school expenses - and probably won't need the loans. . . how much will it affect things for him to let them know, he is now living with his parents?   we're really not in a great position to help too much with his expenses - (we have another in college, and I'm planning on taking a couple classes this year too.)

 

advice please?

[nixpix5]

It is the difference between living on campus and off campus. Living at home is still considered off campus and as a dependent that doesn't change anything if your child was living in your house or living in an apartment next door. What does change is your financial aid award for moving off campus. Living on campus is calculated as a higher expense so they will adjust the package down. It just depends on so many factors and sometimes colleges adjust it differently.

 

What you could do is call the financial office and ask if your child was to move back home how would that effect the award. Obviously if he is living at home they will know. They will know if he isn't living on campus and he could end up on financial aid probation or be held liable to pay it back so it is much better to get that corrected.

 

Could your student do some work study to compensate? That is what I did as an undergrad to avoid loans. Work study can be flexible and allow you to do homework and things while on shift.

Edited August 8, 2017 by nixpix5

[gardenmom5]

trying to understand all this here, so please bear with me (things are very different from when my girls were undergrads). . . . .  he was never planning on living on campus, so that never would have been part of his award.

 

so - they award more for living on campus?  and off-campus is off-campus?  (and moving home shouldn't change anything?)  would they want to be looking at parent income if he's home?  (he's 28 if that matters.  he'll be a junior.)

 

he moved home on short notice a few weeks ago,

 

the aid award came today.  a lot of it is various grants - and some loans, of which he could probably get away with not using. (which he'd much prefer to do - I told him he could accept them so they're available if needed, but he is not obligated to use them)   he has no school debt from his first two years. 

 

we have concern about aid (that he'll need) being withdrawn because he moved home (and they school expecting us to kick in more than we already are.). his expenses haven't really changed by moving home, except he has to drive farther to get to work . . .

he has a part time job- and is able to scale hours down considerably during the quarter to accommodate classes and homework - and full time between quarters.  so he's currently saving money.

 

[nixpix5]

trying to understand all this here, so please bear with me (things are very different from when my girls were undergrads). . . . . he was never planning on living on campus, so that never would have been part of his award.

 

so - they award more for living on campus? and off-campus is off-campus? (and moving home shouldn't change anything?) would they want to be looking at parent income if he's home? (he's 28 if that matters. he'll be a junior.)

 

he moved home on short notice a few weeks ago,

 

the aid award came today. a lot of it is various grants - and some loans, of which he could probably get away with not using. (which he'd much prefer to do - I told him he could accept them so they're available if needed, but he is not obligated to use them) he has no school debt from his first two years.

 

we have concern about aid (that he'll need) being withdrawn because he moved home (and they school expecting us to kick in more than we already are.). his expenses haven't really changed by moving home, except he has to drive farther to get to work . . .

he has a part time job- and is able to scale hours down considerably during the quarter to accommodate classes and homework - and full time between quarters. so he's currently saving money.

Being 28 changes things as he is considered an independent. He doesn't have to even use your information if he doesn't want to. I thought he was younger, sorry.

 

The calculation they use to determine aid is interesting. For dependents, the calculation does factor in more for on campus. I am not sure how that works for an independent though as it has been too many years since I helped someone with financial aid who was independent.

 

The general thing to keep in mind though is if he is over 24 years of age he doesn't add your information. If he adds it, then it can be considered. He uses his information, whether he had income to report or not, it is based on his taxes or income. He would just add his college ID numbers and for each one click the box that says "I will be living off campus". He is your roommate for all intents and purposes.

 

Here is a general explanation of the fluctuation, but again, I would call. If he has dependents of his own then that would increase his aid package. If he doesn't have an income and is independent then he should get a nice award package regardless. No matter what he should leave your income and information blank on his application. There is no need for it. You add it only if you want it considered, but why? There is no need. Use his numbers. At 28 and his independent status "home" would only factor in as off campus living.

 

https://www.lendkey.com/blog/dorm-home-or-off-campus-how-college-housing-affects-cost-of-attendance/

Edited August 8, 2017 by nixpix5

[scholastica]

It really depends on the school's policies. Many schools now require on-campus living if you are receiving significant scholarships. My ds's scholarship requirements are that he live on-campus and work 4 hours a week for the school. Are they requiring him to live on-campus in order for the full package to be available? It's not unusual for this to be the case.

[gardenmom5]

Being 28 changes things as he is considered an independent. He doesn't have to even use your information if he doesn't want to. I thought he was younger, sorry.

 

The calculation they use to determine aid is interesting. For dependents, the calculation does factor in more for on campus. I am not sure how that works for an independent though as it has been too many years since I helped someone with financial aid who was independent.

 

The general thing to keep in mind though is if he is over 24 years of age he doesn't add your information. If he adds it, then it can be considered. He uses his information, whether he had income to report or not, it is based on his taxes or income. He would just add his college ID numbers and for each one click the box that says "I will be living off campus". He is your roommate for all intents and purposes.

 

Here is a general explanation of the fluctuation, but again, I would call. If he has dependents of his own then that would increase his aid package. If he doesn't have an income and is independent then he should get a nice award package regardless. No matter what he should leave your income and information blank on his application. There is no need for it. You add it only if you want it considered, but why? There is no need. Use his numbers. At 28 and his independent status "home" would only factor in as off campus living.

 

https://www.lendkey.com/blog/dorm-home-or-off-campus-how-college-housing-affects-cost-of-attendance/

 

thank you.  this has been very helpful.  he bounced around in and out of college changing majors or working (or not)   in the past  before landing on this path two years ago.  he has no dependents - so it's just him.

 

he's working full time this summer, and plans on pulling one shift a week during the quarter -  he has reported his own income, didn't use ours. he sent off an e-mail this morning.  they don't open until noon, but he had to be at work at 8am and doesn't get off until after they close.

 

 

It really depends on the school's policies. Many schools now require on-campus living if you are receiving significant scholarships. My ds's scholarship requirements are that he live on-campus and work 4 hours a week for the school. Are they requiring him to live on-campus in order for the full package to be available? It's not unusual for this to be the case.

 

this is a major university that is actually about half and half for living on or off campus for undergrads.  this is also a major metro area - and many students come from local families (with scholarships) and have the option of living at home and commuting.   :driving: 

 

the one thing the school does do - is require you to purchase a bus/transit pass.  (2dd was annoyed because her employer practically gave her one - but she still had to buy one from the university.  :toetap05:  so she had two.)

 

the other university he had been seriously looking at required living on campus for first year students.

[nixpix5]

Good luck! Congratulations to your son! I am someone who believes that one shouldn't go to college just for the sake of going to college. Sometimes taking some time and experiencing life cements in someone what they truly want to do. This often leads to invested, serious students with life perspective to offer. Very neat! :)