The way it generally works, regardless of your residency status, is you have a "cost of attendance" that is one figure, an "expected family contribution", and then an aid package that makes up the difference. The aid package may be Pell grants, university grants, state grants, as well as loans. It would seem likely that if you didn't have in-state residency, your total cost of attendance would be significantly higher and loans might be a bigger part of your aid package.

For me, I was considered an independent student (and I was single with very little income) so my total cost of attendance was fairly high, and my expected family contribution quite low. My tuition, books, and a bit extra was fully funded by grants, however some of my living expenses, like my health insurance premiums and transportation expenses, were expected to come out of loans.

 

Also depends on where you're at in school. I was very upset to learn there's no financial aid for graduate school, only loans.

 

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Originally Posted by Gendenwitha Also depends on where you're at in school. I was very upset to learn there's no financial aid for graduate school, only loans.

I am still working on my under-grad

 

I just finished my undergrad (well this quarter is my last anyway) and have SO much in student loans I'm tempted to say ARE YOU CRAZY! STAY IN UTAH! But I can't really balance that with anything because you don't say what is compelling you to move. Is it something you can quantify like a job with a pay raise?

 

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Originally Posted by Gendenwitha I just finished my undergrad (well this quarter is my last anyway) and have SO much in student loans I'm tempted to say ARE YOU CRAZY! STAY IN UTAH! But I can't really balance that with anything because you don't say what is compelling you to move. Is it something you can quantify like a job with a pay raise?

Are you saying that Fafsa doesn't allow for out of state tuition difference?

We were thinking about moving to Ohio for the low-housing costs. We can buy a house just as big or bigger than what we are in right now (1500 sq ft) for about 1/3 or 1/2 the price of Salt Lake homes (or even less if we decide to put some work into a cheaper one) That's our motivation. We figure that we could concentrate more on school and raising our children rather than working waaaay more than we want to, while barely making end meet that way.

 

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Originally Posted by LizzyQ Are you saying that Fafsa doesn't allow for out of state tuition difference? We were thinking about moving to Ohio for the low-housing costs. We can buy a house just as big or bigger than what we are in right now (1500 sq ft) for about 1/3 or 1/2 the price of Salt Lake homes (or even less if we decide to put some work into a cheaper one) That's our motivation. We figure that we could concentrate more on school and raising our children rather than working waaaay more than we want to, while barely making end meet that way.

I'm really not sure. I would discuss it with the school you're at now because I know financial aid can vary from school to school. The reason though should make it easy, because it's very quantifiable. Say school will cost $2,000 amount more but we'll save $4,000 in yearly payments while gaining equity then it's simple.

Keep in mind though, there are advantages to renting, especially when you're a student. If your dishwasher breaks there's no calling the landlord. You're responsible for the time, effort and expense. I realized that my winter quarter I missed more days of class (2) due to being a homeowner (gutter issues, flooded carpet issues, separate days but possibly related) and only 1 due to being a parent (sick kid). Think of it as renting is like being a live-in nanny as a student instead of a parent. You on the surface have the same responsibilities but don't have to deal with crises and if it's too difficult you can quit and find a better job.

And homeownership can nickel and dime you to death. I remember when we first moved in being on the verge of crying in a Fred Meyer over the $13 cost of a garbage can, just because it was one of dozens of things I hadn't accounted for when we moved and I'd just had it stress-wise.

The flip side is now (10 yrs later) our home payment is comparable to what some of my friends pay in rent and they worry they'll never be able to afford a home. But it was a rough first couple of years and I don't know I'd want to tackle it and school at the same time, especially if I was near finishing.

But there are loan options that may be really good for your situation, like an ARM. If you're going to be graduating and going to work more as kids get older, but need lower payments for now, the ARM is a great fit. (It got a really bad rep in the housing crisis but only because it was sold to people who weren't expecting an increase in income and couldn't afford an increase in payments.)

 

If you'll still technically be a Utah citizen for a while you can go to a Utah school online and continue with your current plan. Otherwise you can get "citizenship" in the state you move to- Ohio- and then get FAFSA in Ohio. This is as far as I understand it anyway, I'm no expert (though I should be after a decade of going to college at least part time).

Like pp I was very disappointed to find that it doesn't work for grad school.

 

You should contact the school or schools you are thinking of attending if you move. In the state I live the rules for residency vary. For most community colleges, you only need to live in the state for 30 or 60 days and then you are considered a resident. For the state university that I work at you need to live in the state for 1 year and go to school half-time (6 credits) or less per semester to qualify for in-state tuition. Otherwise they assume that you moved only to attend school and they consider anyone who did that to be a non-resident.

I agree with a previous poster - if you move and are considered a non-resident your financial aid award will reflect the difference in cost of attendance vs. expected family contribution, though more loans may be added to the mix. You might also want to check out if any state grant programs are available, or what scholarships/etc. might be available at any potential new schools.

 

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Originally Posted by heatherweh If you'll still technically be a Utah citizen for a while you can go to a Utah school online and continue with your current plan. Otherwise you can get "citizenship" in the state you move to- Ohio- and then get FAFSA in Ohio. This is as far as I understand it anyway, I'm no expert (though I should be after a decade of going to college at least part time). Like pp I was very disappointed to find that it doesn't work for grad school.

online claases are an option, so long as i don't have to be in attendance to take tests

 

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Originally Posted by LizzyQ online claases are an option, so long as i don't have to be in attendance to take tests

That can usually be worked through a proctor at a local college or even a library, but yes, easier to try and avoid it altogether from my experience.

 

Keep in mind that when transfering schools you can lose a lot of credits which costs time and money. I can't believe Ohio is cheaper than Utah! Is the overall cost of living cheaper, or just housing?

 

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Originally Posted by heatherweh Like pp I was very disappointed to find that it doesn't work for grad school.

What does this mean? I filled out the FAFSA and got several loans for grad school in addition to a few grants and scholarships, so I'm not sure what you mean by saying it "doesn't work for grad school".

OP, I can't answer your question without knowing more, but wednesday and others have given you some good info.