[RO] Financial Independence

[Bunt, Donnie]

Good morning all!

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.

In regards to WAC 250.18.035:
-          (4) 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. Living expenses include expenses associated with college tuition. Financial aid grants, scholarships and loans authorized by the financial aid office in the student's name may be considered as personal income. Personal loans, parent PLUS loans, gifts, and cash earnings shall not be counted as income in this calculation.

      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.

A   Any guidance would be appreciated!

      Thank you,
fe
Sokridanny “Donnie” Bunt
Major Declaration|Residency
EWU Records & Registration
201 Sutton Hall ▪ Cheney, WA 99004
[p] 509.359.2321
[f] 509.359.6153
Email: sbunt at ewu.edu<mailto:sbunt at ewu.edu>

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