<p>Hey so I'm an incoming freshman at CSUF.
Yesterday I decided that living off campus was a far better option for me than living on campus. I would be saving $10K, which is wonderful. However, I've come across another obstacle.
I don't have a job and I probably won't have one for another year so I'm relying on loans to pay off my rent for the first year. My problem is that I don't know how it works. The places I'm looking at are rooms in houses that are being rented off to college students, or anyone basically. I was looking at apartments for awhile but they're too pricey and I don't really want to roomshare. The people I did want to roomshare with are living on campus their first year so I'm doing this completely alone, which is mighty fine by me aha.
There's two places I'm looking at in particular. They're both 500-550 for rent each month. Which means I would want to take out about 5-6K in loans for my first year. How would this cash out to pay for rent each month though?
Any answer, input, and advice is greatly appreciated! </p>
<p>Also, if I do in fact, find an apartment that’s reasonable I will take it! It’s just the paying part that I’m confused about lol</p>
<p>When you ask for a loan the Financial Aid office processes that request and you get the disbursement through the Bursar’s office. I don’t know how long it takes to get the money, but it is after the semester starts. If you are staying in dorms it is easy because they just bill your account for the cost, then when aid and loans comes through for you they deduct it. But for off campus living you will have to come up with the initial funds to put down to secure the place. Likely first month’s rent, then last and security deposit depending on the homeowner’s requirement. </p>
<p>You get two disbursements per year, one each semester. But I don’t see how you could save 10k per semester. Room and board are 13k per year for dorms. Estimate is 12k for off campus, but of course if you pay less for just a room rental then great. If you are lucky to find one for 500 per month that allows you to rent for 9 mos only and not the full year that is 4,500 otherwise, then you have food. 6 or 8 k may be mo re realistic with at least 3k for food makes 9 or 10k more likely. People may just take someone that pays 12 months rent instead of you.</p>