What to expect from financial aid when student moves off campus?

<p>When most school list their COA, they include tuition, room and board, books, travel, etc. I was wondering what happens when a student moves off campus. Do schools still consider the expenses of off campus housing and food when calculating FA awards or do they only look at the cost of tuition? I realize this likely varies from school to school but was hoping that some of you have had experience with this.</p>

<p>D will be a sophomore at a small private school next year and will be moving to an off campus apartment. She has a good merit scholarship that she can keep for 4 years but she also has a small portion of her package that was awarded as a need based grant. I was wondering what we could expect to happen to the need based portion (assuming no other changes in income, # of kids in school, etc.). </p>

<p>Thanks in advance for any insight you can offer.</p>

<p>It is something that depends upon the college. Some colleges, those that built so many dorms and other residences that need to be occupied may refuse to subsidize this. For my one son’s college, the COA for those living off campus was higher than for those living on campus which was really peculiar to me since the dorm/apt rates were very high, and very cheap housing is available in that area. </p>

<p>The way it works is that all colleges have official COAs. (Cost of Attendance). They have to have them as that is what the federal government uses when maxing out the loans and aid they give. For instance, if someone want to borrow the full amount of PLUS (parent loan) for the year, the maximum amount would be that COA. It also comes into play when a student gets scholarships and other awards, as the federal government will not give loans subsidies, work study money, SEOG funds for any one who goes over that COA. So that is a number that exists.</p>

<p>Most every school has at least two COAs. For commuters who live with the parents, and for the student who lives on campus. It’s usually very simple freshman year, because that pretty much covers all of the first year kids. You either commute or live in the dorms. But in following years, it gets more complicated, because some students will move off campus in their own apartments, many upperclass dorm facilities at colleges tend to be suites, apartments and singles, and because some kids who dorm that first year may decide to commute thereafter. So there can be any number of COAs out there, …or not. Some schools will keep it simple and still maintain those two numbers, the COA for living on campus and for commuting. And so you are living on campus or you are not. The schools that do that are those that have to fill their own housing and guarantee to meet full need, so they do not want to pay financial aid funds for those kids living off campus as it is a double whammy for them to do so. Not filling their space and paying for the kid to live elsewhere. Nope. They don’t want to do it. </p>

<p>But other colleges will have separate COAs for freshmen in dorms, upper classmen on campus housing and off campus housing and commuters. Those schools that don’t meet full need most of the time don’t particularly care, but schools that do, are much more fastidiois in defining that COA since they guarantee to meet and have to do so.</p>

<p>So my long explanation comes down to the fact that you have to call the financial aid office and ask how they handle the situation of kids moving into off campus apartments. If it’s a school that tends to have a lot of kids doing this, the situation is probably that they either keep the COA the same and the aid package commensurate, or they have an Off campus COA that isn’t drastically different so it is not an issue for kids to do this. It would likely be a huge bone of contention that is well known on campus if the school cut aid for those who moved off campus and you won’t see as many kids doing it. </p>

<p>Be aware that most schools expect the student to take an increasingly larger role in paying for college each year, so the student EFC generally increases. That is reflected in the additional Stafford amounts that upperclassmen are permitted to borrow. So even as costs go up for a college, the aid tends to be reduced, at least the grant part, and this happens regardless of the housing situation. So, yes, I see grants reduced each year, and this is even at the most generous schools that ostensibly meet full need since nearly all of them define need including a mandatory student contribution.</p>

<p>^^Thank you! Your lengthy explanation was very helpful. Since her need based grant for the current year was both unexpected and very small (though very much appreciated!), I doubt that it will stay the same regardless of where she lives. As you pointed out, the increase in the amount of Stafford loan available will likely alter need based grant money as well. I was just curious about what to expect and what others have experienced. And hoping that most schools don’t treat living off campus in an apartment the same as living at home with your parents since the costs are vastly different!</p>

<p>Granitestatemom, just call the school financial aid office and ask if the COA for living off campus is the same as that of living on for students. For many schools, it is. I was surprised when it was not for my son and that the off campus COA was higher, as I said, since dorm rooms are pricey at his school and there is a lot of cheap housing out there. It did not affect us, but some of his friends who were on financial aid did make out. COA minus EFC equals need, so they got a higher defined need, and as a result some of them got more aid, or could borrow more (Not such a great thing). FOr those who were getting full need met, it was a bit of a bonanza because the COA is an average, and not what anyone in specific is paying so if you can live cheaper than your COA numbers, and get full, it’s all gravy.</p>

<p>But, yes, even the most generous schools tend to cut aid as the student goes on with his school career. The student expected contribution gets larger.</p>

<p>That reminds me, we need to update the FAFSA for the housing status when the student decides to stay off-campus, right? Or would they know because no dorm was assigned?</p>

<p>my d’s college website lists the three COA’s – 1) commuters; 2) dormers; 3) off campus apartment/housing. So, yes, just call and ask if its not posted.</p>

<p>Both FAFSA and Profile have a separate status for living off-campus that you should use if your student is planning on living off-campus. (Come to think of it, you answer that question per-school, so it may be the school itself determines what the list of possible statuses is.)</p>

<p>Luckily, son’s school needed Profile only the first year. One less thing to worry about. Since he will be a junior next year, only his current school is listed on FAFSA. That makes it easier.</p>

<p>Thanks for all of the replies. I (happily) learned today that moving off campus at D’s school does not affect financial aid. Since the school does not guarantee housing for upperclassmen and does not have enough housing for 100% of the student body, they expect a significant number of students to eventually move off and support this financially. Yippee!</p>