<p>I got a really good package from a school that is a 20 min drive from my house. My fin. aid package includes the cost of room and board too. So the financial aid i got exceeds that of tuition. However, I do not plan on buying room and board. Does the financial aid package change if you do not plan on living on campus?</p>
<p>Yes. It will only cover costs at the school, and thus it will be lowered to meet your needs for tuition. Or you will still get it, but must pay it back immediately.</p>
<p>Depends on the school and how they do the cost of attendance. At my daughters school the COA for on or off campus is the same unless you are living with parents then it is reduced which would then reduce the financial aid.</p>
<p>Some schools the COA is less off campus and some it is more. You would need to ask your school. If you are living at home with parents it is likely your aid will be reduced somewhat.</p>
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Yes. It will only cover costs at the school, and thus it will be lowered to meet your needs for tuition. Or you will still get it, but must pay it back immediately.
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<p>Not true at all. COAs include estimated expenses for tuition/fees/books/rooom&board/miscellaneous/travel. The only ones that have to be paid to the school are tuition and fees. My daughter gets a check for the aid dollars that are left over and can buy her books wherever she wants. Next year she is renting an apartment and will be able to use the aid money to pay her rent.</p>
<p>But if she were living at home she would be required to tell the school and the aid would go down. As she is off campus but not with parents she is not required to. (at her school).</p>
<p>I emailed the fin. aid office and asked if living off campus would reduce the amount of aid i got from them this year? They said that it would not change my package. Seems a little strange but it's fine with me</p>
<p>It's not strange as long as you are not living with your parents. You have to pay for room & board, and you get aid to cover the expenses, even if it's not in campus housing. It makes sense. Also --- if it is a merit scholarship, it's possible they will still give you the full amount even if you live at home --- I have no idea if this is the case with your school, but it is a possibility.</p>
<p>Now that I think of it one exception to look out for is if any of your scholarships are specifically to pay for dorms - I know my daughter's friend has one like that so if she did not live in the dorm she would lose that.</p>