Not sure if any of you have gone through this. My Daughter is about to go to College in Iowa. the out of state tuition fee is $17,000 per year more than in state fees. I"m wondering if I can generate trading income.. Put my home state down as Iowa for trading only. I still have a full time job I make money at in Louisiana. If this would work and qualify for in state tuition as long as I'm paying Income taxes to the state of Iowa from a part of my income. I'm about to call the registrar's office to get their take but just wondering if anyone here has some good suggestions. thanks.
I don't think that will work but best to check how Iowa documents residency for in state tuition purposes. I live in Florida and when my daughter went to college here we had to complete a form that indicated things like 1) home address (rent or own for how long, homesteaded, etc.), 2) state of driver's license, 3) state of vehicle registration, 4) state of voter registration, etc. Just having income in a state would not have passed muster.
But generally, a dependent student must have at least one parent who is a state resident for at least one full year before the student matriculated in college.... For independent students, either they or their spouse must have been a state resident for at least a year before the first day of classes.... http://www.registrar.iastate.edu//info/res.html http://www.registrar.uiowa.edu/TuitionandFees/Residency/tabid/94/Default.aspx by now universities know all of your tricks and with new rules to track terrorist and what not you better off just follow what they said.
Most likely you'll need more than one year of residency in order to be eligible for paying in-state tuition. It will probably be more like 5 or more years of having paid state income taxes in order to be eligible. Even if your kid declares emancipation they'll have to have worked and lived in the state for 2 or more years in order to be eligible for in-state tuition.