Off campus Housing and Financial Aid

Paying for College
1

<p>My S will be a junior next year and wants to live off campus.</p>

<p>I have a few questions and hope someone has had experience dealing with this.</p>

<p>Does anyone know if this will effect his financial aid package from the college?</p>

<p>He took a Signature Student Loan and a Stafford Loan this year and is planning on doing the same next year. </p>

<p>Can he include the cost of living off campus to determine the loan amount?</p>

<p>He plans on contacting the FinAid office this week about this but in the meantime I would appreciate any info.</p>

<p>Thanks.</p>

2

<p>I think it depends on the school. My Ds school shows an estimated COA that includes an estimate that is an 'averaged' figure for students that live on or off campus. They say the only time they will change this number is if a student lives with a parent. So I read from that that the financial aid would not change if my D moves off campus her 2nd year. But it is something I will check into when/if the time comes. I seem to recall having heard anecdotal stories in this board of schools that do not include off campus living in the finaid amount. </p>

<p>So if I were you I would check with the school in question to make sure what their policy is.</p>

3

<p>My d's college is the same as Swimcatsmom's d.</p>

4

<p>it was our experience that room and board, included building maintenance.
When D lived off campus, her expenses were assumed to be lower and so her total package was lowered.
Our overall expenditures were also lowered, but as the total cost had been assisted by aid from the school, it was more a break even decision</p>

5

<p>Our college, UCLA, has a different estimated Cost of Attedance for on-campus, off-campus, and living at home. So if the EFC remains the same (for purposes of the example), if off-campus housing is estimated to be less expensive than on-campus, the financial aid package would go down by that amount. The ACTUAL cost of off-campus room/board doesn't play into it at all. So the student could find cheap housing, and save some money.</p>

6

<p>thanks for your help. i will be calling the college and getting verification.</p>

7

<p>The only difference we have had is in disbursment of loans in our name. We had the choice of the loan $ coming to us, or directly to the student.</p>