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<p class="MsoNormal">Hi all,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Private loans – such as those from Discover Loans or from a bank: We consider these as independent as long as (1) they are in the student’s name, (2) nobody else is putting up significant collateral for the loan and (3) nobody else is
making payments on the loan. To this end, we ask for some background information on the loan to determine the first pieces and recent loan statements for the last part.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">(We did once encounter a student whose parent had given the bank a cash amount in collateral that was the same amount as the bank’s loan to the student. That was a no-go.)<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Co-signers are okay because the reality is that most students can’t get these loans without a co-signer. If anyone has any different thoughts on that, I’d love to hear them.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Personal loans – such as from a relative or a business: Dependent. To elaborate on the business part, we have seen students who have loans from a business that they have some sort of personal relationship with, such as their parent’s employer.
If these loans are <i>dependent</i> on their relationship with someone else, they would be
<i>dependent </i>in our calculations. If we can’t determine that there’s a relationship like that, we look to see if these loans are generally available to other students and would consider them to be dependent if they are not. That’s a situation that we
had just one time, so if it’s confusing, skip it for now and you’ll know it if you ever see it because it will just seem odd.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Best,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-family:"Encode Sans Narrow";color:gray">ALISON BAZELEY<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Encode Sans Narrow";color:gray">Counseling Services Coordinator, Residence Classification & ELPR Office</span><span style="font-family:"Encode Sans Narrow""><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Encode Sans Narrow";color:gray">Office of the University Registrar</span><span style="font-family:"Encode Sans Narrow""><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><b><span style="font-family:"Encode Sans Narrow";color:gray">Please visit our website for more information on submission procedures and office hours.</span></b><span style="font-family:"Encode Sans Narrow";color:gray"><br>
Residency: <a href="http://registrar.washington.edu/students/residency/"><span style="color:blue">http://registrar.washington.edu/students/residency/</span></a>
</span><span style="font-family:"Encode Sans Narrow""><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Encode Sans Narrow";color:gray">ELP:
<a href="https://registrar.washington.edu/students/elpr/"><span style="color:blue">https://registrar.washington.edu/students/elpr/</span></a> or
<a href="http://www.washington.edu/assessment/testing-center/tests/aep/"><span style="color:blue">http://www.washington.edu/assessment/testing-center/tests/aep/</span></a>
</span><span style="font-family:"Encode Sans Narrow""><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt;background:white"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><img border="0" width="241" height="19" style="width:2.5104in;height:.1979in" id="Picture_x0020_1" src="cid:image003.png@01D9DA5F.6C574FF0" alt="cid:image001.png@01D30633.62C2AAE0"></span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:7.5pt;color:#7F7F7F">This email and any files transmitted may contain confidential information as protected by the Family Educational Rights and Privacy Act (FERPA), 20 USC § 1232g and/or
Electronic Communications Privacy Act, 18 U.S.C. § 2510-2521. If you are not the intended recipient, you are hereby notified that any disclosure, copying, or distribution is prohibited. Furthermore, if you are not the intended recipient, please notify me immediately
by return e-mail and completely delete this message from your system.</span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> RO <ro-bounces@lists.ctc.edu> <b>On Behalf Of </b>
Bunt, Donnie via RO<br>
<b>Sent:</b> Tuesday, August 29, 2023 8:13 AM<br>
<b>To:</b> ro@lists.ctc.edu<br>
<b>Subject:</b> [RO] Financial Independence<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Good morning all!</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">I hope everyone is having a wonderful morning so far! I have a question regarding students who are wanting to establish Residency as a financial independent and what can
be counted towards their income.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">In regards to
<span style="background:yellow">WAC 250.18.035:</span></span><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">- <span class="apple-converted-space"> </span><span style="background:yellow">(4)</span><span class="apple-converted-space"> </span>To
be considered financially independent, a student must demonstrate by evidence satisfactory to the institution that the student has met, through the student's personal income, living expenses for the calendar year immediately prior to the year in which the
student applies for resident status and for the calendar year in which the student applies for resident status.<span class="apple-converted-space"> </span>Living expenses include expenses associated with college tuition. Financial aid grants, scholarships
and loans <i>authorized</i> by the financial aid office in the student's name may be considered as personal income.
<u>Personal loans, parent PLUS loans, gifts, and cash earnings shall not be counted as income in this calculation.</u></span><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> </span></b><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> How do you consider private educational loans? Would you consider that as income? I am needing some clarity regarding this because per
my understanding, there are some private loans that can be used with the University if the Financial Aid Department approves it.</span></b><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> </span></b><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">A
</span></b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Any guidance would be appreciated!</span><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"> Thank you,</span><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:-.25in"><b>fe</b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:13.0pt;font-family:"Book Antiqua",serif;color:#1F497D">Sokridanny “Donnie” Bunt</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-family:"Book Antiqua",serif">Major Declaration|Residency<span style="color:#C00000">
<br>
</span></span></b><span style="font-family:"Book Antiqua",serif;color:#C00000">EWU Records & Registration<b>
<br>
</b></span><span style="font-family:"Book Antiqua",serif;color:#1F497D">201 Sutton Hall ▪ Cheney, WA 99004<b>
<br>
</b></span><b><span style="font-family:"Book Antiqua",serif;color:#C00000">[p] </span>
</b><span style="font-family:"Book Antiqua",serif;color:#1F497D">509.359.<b>2321 <br>
[f] </b>509.359.<b>6153</b></span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-family:"Book Antiqua",serif;color:#1F497D">Email:
</span></b><span style="font-family:"Book Antiqua",serif;color:#1F497D"><a href="mailto:sbunt@ewu.edu">sbunt@ewu.edu</a></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Book Antiqua",serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><a href="https://urldefense.com/v3/__https:/inside.ewu.edu/careercenter/all-majors-career-fair/__;!!K-Hz7m0Vt54!gZ173nxx4rKJPdtjqwuD3tx9i-ewJ4lpHetcJh77GVrLw-LmqyorXSS9UPQnPDrQkt20s6nyrKxogQ$"><span style="color:windowtext;text-decoration:none"><img border="0" width="311" height="73" style="width:3.2395in;height:.7604in" id="Picture_x0020_5" src="cid:image001.jpg@01D9DA5E.9008B110" alt="cid:image005.png@01D9AB83.0896DB30"></span></a><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Adobe Devanagari",serif;color:#1F497D"> </span></b><o:p></o:p></p>
<p class="MsoNormal" style="text-indent:.5in"><span style="color:#A30000"><img border="0" width="201" height="65" style="width:2.0937in;height:.677in" id="x_x_Picture_x0020_1" src="cid:image002.png@01D9DA5E.9008B110" alt="cid:image001.png@01CE4748.D03B7CE0"></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;color:#A30000"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><i><span style="font-size:7.5pt;font-family:"Verdana",sans-serif;color:#666666;background:white">This email and any files transmitted may contain confidential information as protected by the Family Educational Rights
and Privacy Act (FERPA). If you are not the intended recipient, you are hereby notified that any disclosure, copying or distribution is prohibited. If you have received this electronic communication in error, please notify me by telephone or return email
and delete this message from your system completely.</span></i><o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
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