Living off-campus can be a rewarding experience for many students, offering more independence and flexibility. However, it also comes with added responsibilities and financial considerations. Whether you already live off-campus or are thinking about it, we recommend visiting the Off-Campus College website for important information, listings, and updates.
Financial Aid and Off-Campus Living
For financial aid purposes, your estimated cost of attendance includes tuition and fees, room and board, books, and personal expenses, whether you live on or off-campus. However, only students living with a parent off-campus have a reduced cost of attendance.
While some students assume that off-campus living is cheaper, it's essential to account for all related costs, such as:
- Rent and utilities (electricity, water, gas)
- Renter’s insurance
- Internet and phone charges
- Food and groceries
- Furnishings and household supplies
- Transportation
How Financial Aid Works for Off-Campus Students
- Financial aid (except Federal Work Study) is applied first to your semester bill, which typically covers tuition and fees.
- If your aid exceeds your tuition and fees, you will receive a refund at the start of the semester to help cover off-campus living expenses.
- Aid is based on a typical 9-month academic year (fall and spring semesters). This means any refund you receive should be budgeted to cover costs during these months and is not intended for summer living expenses, even if your lease is for 12 months.
Example of Refunds for Off-Campus Living:
You have decided to live off-campus this year. Your total financial aid package, including grants, scholarships, and loans, amounts to $15,000 for the fall semester. Your university bill for tuition and fees comes to $10,000, leaving you with a $5,000 refund to cover your off-campus living expenses.
Here’s how it works:
- Financial Aid Applied to Tuition and Fees: At the beginning of the semester, your financial aid is first used to cover your university bill. In this case, $10,000 of your aid is applied toward your tuition and fees.
- Refund Issued: Since your aid exceeds the cost of tuition and fees, the remaining $5,000 is issued as a refund. This refund will be sent to you, either through direct deposit (if set up) or as a check, around the first day of classes.
- Using the Refund for Rent: You’ve rented an apartment off-campus, and your monthly rent is $1,200. You can now use the $5,000 refund to help cover your living expenses for the semester. For example, $1,200 x 4 months = $4,800, leaving you enough to cover rent, with a small amount left for other essentials like utilities and groceries.
- Planning Ahead: Since financial aid is disbursed per semester, you’ll get another refund at the start of the spring semester, which will help cover your rent and living costs for the second half of the academic year. It’s important to budget your refund carefully to make sure it lasts for the entire semester.
Important Tips for Off-Campus Living:
- Financial aid cannot assist with security deposits, first/last month's rent, or summer rent when you're not enrolled in classes.
- Our office cannot intervene in efforts to break a campus housing contract or an off-campus lease mid-year.
- Refunds won’t be disbursed until the first day of classes each semester, so you'll need to plan ahead for rent due before refunds are available.
- If you're counting on your refund for rent, communicate with your landlord to coordinate payment schedules.
- Estimate all expenses, including trash fees, cable/phone/internet, and utilities, to avoid surprises.
Make sure to carefully budget your financial aid to manage off-campus living expenses throughout the academic year. For more resources and support, visit the Off-Campus College website.
