There is typically extra money left over once everything on the bill is paid; especially if the student doesn't have on-campus housing, dining, and/or UNCW insurance. If you live off campus and have leftover financial aid, you receive the balance, which you then can use for housing expenses, books or transportation. (The main exception is the six dozen elite colleges that have adopted no loans financial aid policies. In fact, in many cases, they will receive less financial aid. Does living off campus change my eligibility for financial aid? y The amount you receive is based on the cost for a standard, double-occupancy room in a residence hall. But because so much financial aid is available, student need to be extra careful not to borrow more financial aid than what is needed. A. WHO PAYS THE UTILITIES? Careers; Blog; About Amazon; Press Center; Investor Relations; Amazon Devices; Amazon Tours; Make Money with Us. If we don’t know your particular situation, we can’t say for your case. Get to Know Us. It can and it might but it depends on several factors. Financial Aid is computed against the cost of attendance for an academic year. Cornell University, for example, does not calculate financial need any differently for students who are living off campus. Even when the college meets a student's full demonstrated financial need, the financial aid package will usually include some student loans. Sometimes certain utility charges like hot water are included in the rent. It includes tuition and fees as well as average amounts for standard expenses such as books, supplies, room, board, and other living expenses for three-quarters of study. y The student financial aid budget pays for typical housing costs like rent, utilities and food. FAFSA and state applications for student aid cover a wide range of financial aid options, but your school might have housing grant programs of its own. First you have to have ‘need’ to get aid for any part of your costs (COA). Will I get a refund on my financial aid to cover off campus expenses? For updates to your housing status that occur after the 15th day of instruction, additional grant aid is awarded only if grant aid is available at the time the form is submitted. Remember that most financial aid comes in the form of student loans that must be … If there’s any funds left over, it’s applied to on-campus housing and dining costs. Financial aid can't help with costs of securing future housing (i.e. Basically, any education related expense can be covered by financial aid. Housing greatly affects the amount of assistance you receive through your FAFSA. Financial aid and student loans can cover the cost of books, housing, food, transportation, and even entertainment. The room and board allowance is the same for students, whether they live on- or off-campus. HOW DOES FINANCIAL AID COVER THE MOVE TO OFF-CAMPUS HOUSING? Keep in mind, your actual costs may differ. The reason I ask is because there is an option "Housing payment plan: Financial aid" when submitting my housing payment and I want to be sure if I can check this option. Will part of this money pay for on-campus housing? If you find yourself in this situation, it makes sense to know that what financial aid and private student loan options cover housing, both on and off-campus. security deposit, first/last month's rent), or covering rent during months that you are not a registered student. When you fill out your FAFSA, indicate whether you will be living on or off-campus. The truth is that most students do not receive more financial aid if they live off campus. security deposit, first/last month's rent), or covering rent during months that you are not a registered student. Financial aid awards are calculated based on a student's cost of attendance at UMass Boston, which includes an allowance for living off campus. I was awarded $18,275 for my total financial aid. The Office of Financial Aid and Student Employment will not intercede in a mid-year attempt to break a campus housing contract … Your Estimated Cost of Attendance, or budget, includes a housing allowance. Your housing status with a parent or off campus or in a dorm will directly affect how much assistance you receive from the federal aid. An amount is included in your financial aid offer whether you live on or off campus.