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I haven’t gotten anything either. I also think I’m farther behind because I got my notice for the deposit in January and it said I would not know my space in the queue until June. This is for a studio and my position drawn was in the teens.
Here is the text from the email: “If you do not complete the application and make payment by March 1, 2024, you will forfeit your position on the waiting list. In June 2024, after all applicationsare processed, we will provide you access to view your position on the waiting list via the Penn South Applicant Portal.”
Ah, now I just looked at the applicant info section of the portal and see where it says the latter half of April. Best wishes everyone.
Last edited by NYC10011; 05-03-2024 at 04:23 PM..
Reason: added an update after logging into the portal
Yes, first it said June, then it said April. They should have left it at June and then when we heard our status in May we would have been thrilled about how fast it was!
Has anyone on the 2023 list gotten an update on their status? They said it would conclude by the end of April but I haven't gotten anything. But I also have had repeated issues with mail delivery so I don't know if I maybe missed the physical letter.
I also haven’t received an update yet, the portal still says they are reviewing apps, will conclude later half of April. Has anyone received an update/position in line yet?
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Quote:
Originally Posted by mjg713
Does anyone know how the 5 year hold works? Is it a hard rule? For instance, if an applicant was out of state temporarily for a graduate program.
How near are you to getting an offer? It’s great that you are thinking ahead but rules change. They might be rule changes beyond Penn South’s control. And in any case they could be rule changes without notice. So keep up to date.
I don’t know how it works. Have you consulted the Penn South web info resources ?
I suspect it is a 5 year maximum, but person can hold for less. For example, a person needed 30 months to save money for the purchase minimum.
There might not be any further questions why an applicant took a hold. It might just be an opportunity for the asking without qualifications.
I don’t know if they apply at Penn South but it can make a difference if a person is a full time student or part time student. We can hope your school would understand if it was necessary to suddenly become a part time student to benefit from a very rare opportunity.
I mentioned savings. You might consider consulting a financial advisor. If you bank a lot of cash, your grad school might weigh that against your financial aid package if that applied. Schools do different things. Some programs have stipend. But the questions to ask are how to shelter funds. Some retirement accounts allow for early withdrawal to purchase a home. Perhaps Penn South would be a qualifying purchase.
Do you have to be a NYS resident for Penn South purchase? Do you get a pass once you are on the waitlist? There are ways of maintaining NYS residency while away at school.
The 5 year hold is that you have a maximum of 5 years to be on hold, so if you go on hold May 18, 2024, you're off hold on May 18, 2029. Your position on the list continues to move up while you're on hold, so you may be called for an apartment immediately after you become active again.
If you want to buy yourself some extra time, wait to go on hold as long as you can until you feel like you're close to being called. Like if your current position is #400, you're not getting called for a few years, so you can ride out 2-3 years being active and then go on hold for that 5 years max, essentially giving yourself 8 years to purchase a place.
If you're talking about going on hold to pursue a degree out of state over that time period, you need permanent NY state residence to qualify for an apartment, so you want to ensure you can prove that before going off hold.
If you're out of state during that 5 year period, they wont really know. As long as you were a NY resident when you applied for the lottery and are a resident when you're called for an apartment, that time in between doesn't really matter.
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