>> Undergraduate
Financial Aid Index
How Living Off-Campus Affects
Your Eligibility for Financial Aid
Some undergraduate students who are considering moving off-campus,
as well as those who currently live off-campus, often ask how living
off-campus impacts their financial aid. We hope to answer your questions
with the following information:
Q: Does living off campus impact my financial aid eligibility?
A: No. When we determine your financial aid eligibility, a
standard room and board budget is used for undergraduate students,
whether they live on or off-campus. The amount for the 2008/2009 school
year is approximately $9,830. So no matter where you live, your room
and board expenses are estimated to be around $9,830. Some may think
off-campus living is less expensive. However, do not forget to factor
in and consider all off-campus expenses such as rent, utilities, renter's
insurance, phone charges, food, furnishings, cleaning supplies, and
transportation before making your decision.
Q: I live off-campus now and have financial aid. Can I use
my financial aid to pay my off-campus expenses?
A: Maybe. This depends upon the amount of your charges on
your student account and the amount of your financial aid. If you
live off-campus, your student account will be charged for tuition
and fees. If the total charges appearing on your fall semester account
are $18,425 for example, and your financial aid for the fall equals
$19,425, then you have a $1,000 credit balance on your account. In
other words, if your financial aid exceeds your directly
billed University expenses, then you may have the excess amount refunded
to you to pay your off-campus living expenses. You may have
heard the term "refund" used around campus to represent
the above scenario.
On the other hand, if you live off-campus and your aid totals around
$14,000 for the fall semester, and your fall charges are $18,425,
you can see that in this case you would still owe $4,425 to the University
in addition to providing for your off-campus living expenses.
Every situation is different. Students must look at their own financial
aid eligibility and University charges to determine if there will
be a credit balance on their student account to assist with off-campus
living expenses. InsideND
is a good resource to use to look up your financial aid and student
account information.