<p>First off: If we choose not to live on campus, do we have to do anything else such as notify the financial aid office (I saw it mentioned somewhere here)?</p>
<p>Second: If we place a deposit for the housing offer, are we required to stay in the dorms for the year? Or can we back out of the offer before and after the start?</p>
<p>Yes, you have to notify the financial aid office. Your student budget amount will decrease by $2000, so your loans, work study, grants, scholarships, etc., will decrease with it. I dont know if the deposit is binding, but I would imagine so. I dont understand why freshmen would want to live off campus. Come on, none of the housing is that bad and thats how you meet people. Plus, its just so hard to find an affordable place in the area.</p>