<p>Most of my educational expenses are paid from the financial aid I receive. But I still have to take a certain amount of loans to cover all my costs. I'm wondering whether moving off campus will help me save money.</p>
<p>I know living off campus is cheaper, but by how much? According to the FAO website, off campus residents receive less financial aid (~$2000 less)... so is living off campus only about $2k cheaper? In that case I won't really be saving any money (because I'll still need to take out the same amount of loans), so might as well stay on campus... What do you guys think?</p>
<p>The problem with the costs of living off campus is that it is very variable. Do you want your own apartment, your own room, etc? How far away from campus are you willing to go? How much do you plan on spending on food each week (make yourself most meals or eat out on campus, etc.)?</p>
<p>It all really depends. I've found that living off campus sharing a room with a roommate in the village was significantly cheaper than the dorms. Rent was only $560/month, I didn't spend much on food, and the other benefits were nice as well - having a parking space, having a much larger living area, etc.</p>
<p>It will help save money. You get less financial aid, but the cost of living on campus is quite a bit. </p>
<p>I think I spent around 12kish to live on campus and currently, I will pay (provided I can sublet my apartment during summer) about 6.3k a year to live off campus. It depends on what you can find. My place is expensive because I got it late, so if you shop early (NOW?), you can get something cheaper or better. So the savings is huge for me. I did get less aid, but even if I were to get 2k less aid, I saved 4.3k. </p>
<p>Oh and if I would be able to get a permit, I would have had to pay an extra 600 to the dorm price of 12kish, so almost a savings of 5k for me.</p>