For college students planning to attend college this year and plan on living off-campus the Federal Student Aid office of the U.S. Department of Education put out some tips to help with those students looking to budget their money.
Here are some important points to keep in mind as you build your budget and identify what goes into your income and expenses.
Overestimate your expenses. Underestimate your income.
Plan on spending more than you will expect to have less money coming in than you really do. This is a simple trick akin to setting your watch ahead 5 minutes to give an extra cushion of time. It may seem silly to play "pretend" but the results could be a surplus of income rather than running out of money. Something many college students are familiar with.
Your family might offer good advice.
Parents and spouses may be critical when it comes to your budget because they care about you and don't want to see you in a tight financial spot. Discussing how financial decisions will be made with others close to you and seeking a "second opinion" can help.
Prepare for the unexpected.
Set aside an "emergency fund." Budgeting will help you cover unexpected expenses and plan for drastic changes that may occur.
The above is good advice for any students who are looking to stretch their 2019-2020 school living budget.
The following list is comprised of spots for those who are new to the Rochester, NY area and would like to see what the city has to offer. A strict budget has been taken into consideration when compiling this list.
Mendon Ponds Park: trails and water fun! Nature lovers will want to check this out.
Festivals: Rochester, NY is known for festivals and the Park Ave Fest for college students is no exception. The Lilac Festival is another one worth checking out. There are many more and are announced regularly in local Rochester, NY news publications like the Democrat & Chronicle.
Rochester Art: The Strong Museum, Rochester Museum & Science Center, and the Memorial Art Gallery are a few places to check out if you are a student who is an art lover.
Mount Hope Cemetery: The tour scene here is interesting.
Bike Ride/Walk Along the Canal: The canal that runs through the city serves as a great backdrop to a pleasant walk or bike ride.
Ice Skating at the Ritter Ice Arena at RIT: The spot to go if you enjoy ice skating.
Black Button Distillery: When adults sign-up to be in the know about their latest products, news and special events and they'll give you one FREE spirits tasting.
Sonnenberg Gardens & Mansion: Beautiful gardens. Very scenic.
The Little Theater: Art house films for only $6 for students, children, and seniors.
George Eastman House: the world's oldest museum dedicated to photography and one of the world's oldest film archives. A "must" for anyone visiting Rochester.
Susan B. Anthony House: A famous historical landmark.
Seneca Park Zoo: A fun zoo that has quite the collection of animal life.
Red Wings Baseball: Experience what viewing a minor league baseball game is like.
Although this guide applies to everyone, abroad students coming from countries outside the U.S. will probably find the information most useful.
⦁ A deposit will most likely be required for a student home in the U.S., usually of one month or six weeks’ rent, which is returned during the move out. Of course, the property must remain in the same condition as it was at the beginning of the lease in order to get the full deposit back.
⦁ Utilities (energy costs, internet, water, cable) will usually be extra cost so this must be factored in when budgeting.
⦁ Additional fees can exist. For example for the use of parking spaces, laundry facilities or concierge services, at some apartment blocks.
⦁ Deciding between furnished and unfurnished housing is imperative. If a student is coming from outside the U.S. this will need to be arranged ahead of time.
⦁ Apartment blocks and university dorms sometimes supply access to facilities such as a pool or gym, which can save money for students who would otherwise pay extra for memberships. Each school varies so it is important to look into this.
⦁ Lastly but certainly not least, check how safe the housing unit is by inspecting the neighborhood and all the security features (if there are any) such as door entry, security personnel or CCTV in communal areas.
Following these tips will ensure any abroad student will find their student housing experience in the U.S. fulfilling and enjoyable.
The above infograph comes from J Turner Research in cooperation from places4students.com. Right off the bat it's easy to see what the number one in-demand request is: A personal bathroom.
Rochester Smart Student Housing aims to please. We will find you a place to call home away from home and help you have the greatest off-campus housing experience possible with every amenity desired.
Feel free to check out our student housing listings. Also feel free to call with any questions you may have: 585-330-5256
The residents of South Hill, Ithaca are a strong testament to the double edge sword that is new student housing development in communities. 815 South Aurora Street has been approved as the location of new student housing development by the Ithaca Planning Board. The meeting happened last week on September 24.
The decision was not passed without strong opposition however...
South Hill resident Roger recently spoke on the move:
“The difference here is that during inclement weather, there is a choice that is made to visit the garden. On this site [815 S. Aurora St.], one must go into the fall zone because people live there and frequent the parking lot/fall zone on a daily basis - it is the only way out of these apartments buy vehicle or bicycle. One must walk through the fall zone to take out the garbage.”
Further opposition came from Michael Belmont, who is moving to Ithaca from Rochester::
“To be clear I respectfully encourage this board to deny this site plan as proposed. The Visum project has been given special consideration and has been allowed to fly under the code’s radar on many occasions and has inspired changes in the code at times like a reduction in a cell tower fall zone.”
Emily Petrina, a member of the board, said she supports the building and feels that the nearby road, Route 96B, has grown into "a major thoroughfare in and out of the city of Ithaca."
All in all, student housing development in Ithaca warrants the growing demand students have for off-campus student housing.
700 million USD To Be Invested In Student Housing By 2023
With 90% of the market is still unorganized, student housing sector in India is expected to witness investments of over USD 700 million by 2023, according to a report released by CBRE, a US based real estate consultancy firm.
This serves as more evidence that the growth of student housing is not localized to any one region but rather to a global proportion. The popularity of student housing is based on multiple driving factors but millenials wanting their indepedence and own space is one of these factors that continues to propel forward, speaking volumes about current students' mindsets all over the world when it comes to living conditions.
With the CBRE report solidifying an already strong multi-year trend, student housing continues to be in great demand. It will be exciting to see what 2020 has in store for student housing all around the world.
At Rochester Smart Student Housing (RSSH) we continue to strive for perfection when it comes to the experience of living in off-campus housing. RSSH Off-Campus housing is clean, safe, and affordable with many houses for rent within a 5 minute proximity to RIT, U of R, and MCC.
Call today to learn more about student housing through RSSH: 585-330-5256
Students with diagnosed disabilities may need special consideration when it comes to student housing, of course, this is based entirely on the disability and the extent to which it prevents students from experiencing the same quality of student life as students without disabilities. Things like air-conditioning, accessible bathrooms, strobe alarm, accessible home entry way, etc. should submit a Disability Accommodation Request to CARDS (Center for Accessibility Resources & Disability Services).
CARDS defination of "disability."
Under the Americans with Disabilities Act of 1990, a disability is defined as "any physical or mental impairment that substantially limits one or more major life activities." If you are unsure whether your particular illness or impairment qualifies as a disability, please contact CARDS directly, well in advance of the deadline.
Is registration with CARDS necessary to apply for disability-related housing?
A student, who has not previously registered with CARDS, must do prior to applying for a disability-related housing accommodation. It is common for CARDS to find that when students come in to discuss their disability-related housing concerns that there may be other types of needs (especially for students with chronic illnesses) for which CARDS registration might be helpful in the future.
CARDS is here to help disabled students find proper housing, whether it's on-campus or off-campus housing.
Believe it or not, financial aid is actually available for off-campus housing needs to help cover the cost of off-campus living expenses. Off-campus housing may seem more of a luxury compared to dorm housing but, regardless, financial aid extends this far as well to those who qualify.
⦁ File the FAFSA or renewal FAFSA by March 1. Students must include detailed information about their housing plans on the school section of the application. Priority consideration and financial aid funding sources are given to students who apply before the deadline. Financial aid may still be available for those who file the FAFSA after the deadline, but all funding sources may be used up by then.
⦁ Financial aid budget is, for the most part, the same as standard living expenses. Be cause of this, students should carefully plan their budget to make sure the cost of living off campus is covered even with financial aid as many times the cost of living off campus exceeds the cost of living in the school dorm.
⦁ What mainly will affect a FAFSA application from being accepted or not is filing a late FAFSA or renewal, family income, taxes paid, and assets etc. This will not only affect the total financial aid amount but may affect whether the student applying for financial aid is even eligible or not.
The above 3 bullet points should be studied and retained if you are a student planning on applying for FAFSA for the purpose of covering student housing costs.
As student housing demand continues to rise a sub-set of student housing style has recently emerged full force. More and more, students are looking into luxury apartments. To many, this can be detrimental to budgeting needs but, the demand is there regardless.
First, it is important to define what is considered "luxury student housing" which is best illustrated by the following bullet points:
Is Luxury Campus Housing Growth Industry?
The short answer is "No."
Student debt is the biggest financial burden on millenials' shoulders today and, if any good has come from it, it's in the form of education.
Education about the importance of budgeting. Although today's student definitely has a higher chance for acquiring a taste for luxury living over their parents and certainly their grandparents, recent news stories about the horrors of student debt and tons of accounts of personal experience are a testament to this.
Looking for affordable, clean student housing?
The RSSH offers quality student housing that won't wreck a student's budget.
For a full list of available student housing click here.
Students typically expect tuition to be the biggest expense, but, more and more students are finding that student housing is a close second. Too close for comfort based on some students budgets.
On average, public four-year in-state students pay housing costs that exceed tuition, doing serious harm to student financial lives. This is why it's important to do research if you are a student planning on living off campus.
In Rochester, construction projects are on the rise and with city development comes an increase in cost-of-living expenses. Couple this with the increase of demand for student housing. More and more, students are craving their independence and it shows. Students need to budget their finances more than ever in order to satisfy their need for independent living conditions.
There does exists apartments and homes with comparatively low costs, but these rarities often come at a sacrifice of safety and distance from the campus. The cost of dorms and off-campus housing are typically very high. Not to mention, many students have to pay for their college in full without assistance of any kind.
High costs of student housing are expected for the following reasons:
It is is important for students to do their research when looking for student housing in Rochester, NY. The RSSH offers clean and convenient student housing at an affordable price.
Tips from Rochester Smart Student Housing