I want to move to another state take a year off then go to grad school how does residency work?

Question

I am graduating in may and am currently a resident of NYS and I want to move to PA in june when my NYS lease is done. I plan to attend grad school after taking a year off. I am wondering what are the finacial implications of living in PA for a year then attending grad school. Do i have to become a resident of PA or can I stay NYS resident. Does either residency have finacial benifits? My concerns are that i am still a dependant of my parents in NYS and they are concerned about how my taxes will be disburrsed, healthcare coverage and finacial aid when i do apply. Has anyone dealt with a similar situation? I am trying to fin dout if it is better to stay in NYS for a year then move to PA when i am actually attending school.

Answer 1

I'm not sure if graduate school is any different than undergrad requirements for residency, but lets assume that it is (worst case scenario). Note: residency only really matters if you're going to a state school. Most private schools do not have reduced rates for state residents.

You will have to live in PA for a year, showing an intent to live there (DL, job, voter registration, etc). Your parents can't claim you as an independent. Upon getting PA residency, you will lose your NY residency. You also can't take any college classes during the twelve months for residency.

If you are a graduate, then most likely you are older than 24 (you may not be). At which point, once your parents no longer claim you as a dependent, your parents tax returns are no longer looked at for consideration of need-based financial aid - just yous.

A bare bones health insurance policy (if you're healthy) will run you about $120/month.

Your taxes will be paid to your state of residency.

Hope this helps

Answer 2

LX V is right about a lot of this. You'd have to switch all of your info. (car, dl, etc.) and your parents would not be able to support you. If the grad school you're planning to attend has out-of-state tuition, its probably worth it to do this. Your parents will not be able to claim you as a dependent once you don't live with them (they can claim with you as long as you live with them and they support you, no matter your age), which may be what worries them about taxes. They also will not be able to keep you on their insurance. I would look for very basic bare-bones health coverage for this year. Once you're a student you will be able to sign up for student insurance and pay for it with student loan funds. For financial aid, your parents income doesn't matter once you're a grad student. The bad news is that there is little aid available for grad students unless you get aid from your department (assistantships). Even if you get an assistantship you will probably need to take out loans to support yourself.

However, you should also think about how you're going to get through this year. For instance, if you're looking at schools in Philly, that area of PA is a very expensive place to live. That whole corner of the state, not just in the city... On the other hand, its a big state and you could live anywhere in it for the next year. I know of schools who have made students turn in credit card and bank statements to prove that they lived in the state for the whole prior year and were not supported by their parents, so don't try to fudge this.

Good Luck!