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.
Tips from Rochester Smart Student Housing