So I submitted the FAFSA for financial aid for one of my prospective colleges.
On the application, I stated that I would be living on campus.
I heard back from my college about the financial aid package.
However, It seems that I have changed my decision and will look for off campus housing.
WIll that effect my ability to claim my financial aid package?
Thank you!
You will have to inform them of that. Some colleges have a different COA for university housing vs off campus housing so you may have an adjustment to the aid.
Be aware that you will likely have to pay upfront for your housing when you start school. Depending on how the school processes aid, it may be some weeks before you get your disbursement.
Also don’t forget that most apartment leases will be for 12 months, not just the length of school year. Find out how much the rent, security deposit and utilities are and if parent has to cosign, then figure if it is indeed cheaper than the cheapest on-campus option. You might also need furniture and other supplies and will have to figure your food costs unless you have a meal plan. It is usually better to be on campus freshman year, and easier if you have a work-study job on campus because they will work around your schedule and you will not have to travel back and forth between school and apartment. Also you will probably make friends easier.