Which is cheaper: off-campus housing or on-campus housing? Does financial

C

Christine M

New member
aid cover the rent/utility bills? I am a freshman at Texas State University in San Marcos and the summer before I start my sophomore year, I want to move out of my parents home and move into my own place with my older brother. I have read that financial aid will cover rent but I don't know if I would get more financial aid if I lived on campus or off campus. This year I received $6000 in grants and $5500 in student loans. That was when I stated that I was a dependent student living at home with my parents and my father was unemployed.
 
You received the maximum in financial aid this year. Next year, you'll be eligible to take out an additional $1,000 in federal stafford loans. Plus, next year you may not receive the same amount of grant money. You will either have to apply for private student loans, or your parents will have to take out a parent-PLUS loan to cover additional costs. Financial aid does not pay your rent. Some students receive refunds, which they can use however they'd like. Not all students receive refunds. It depends on your school's estimated cost of attendance. But, if you're already receiving the maximum in financial aid... there's nothing left for you to use to cover your living expenses. Unless your parents are willing to take out a loan to help you pay for a place to live (which I doubt since your father is unemployed), you'll have to work and pay for your own place. It will be much cheaper for you to live at home then it will be to live on your own. If you can get some scholarships, that money can go towards room and board costs (for living on-campus). Don't forget all the expenses that come with off-campus living: rent, utilities (water/sewer, electric/gas, trash removal), renter's insurance, transportation costs, cable, internet, phone, food, household supplies, etc).
 
You received the maximum in financial aid this year. Next year, you'll be eligible to take out an additional $1,000 in federal stafford loans. Plus, next year you may not receive the same amount of grant money. You will either have to apply for private student loans, or your parents will have to take out a parent-PLUS loan to cover additional costs. Financial aid does not pay your rent. Some students receive refunds, which they can use however they'd like. Not all students receive refunds. It depends on your school's estimated cost of attendance. But, if you're already receiving the maximum in financial aid... there's nothing left for you to use to cover your living expenses. Unless your parents are willing to take out a loan to help you pay for a place to live (which I doubt since your father is unemployed), you'll have to work and pay for your own place. It will be much cheaper for you to live at home then it will be to live on your own. If you can get some scholarships, that money can go towards room and board costs (for living on-campus). Don't forget all the expenses that come with off-campus living: rent, utilities (water/sewer, electric/gas, trash removal), renter's insurance, transportation costs, cable, internet, phone, food, household supplies, etc).
 
You received the maximum in financial aid this year. Next year, you'll be eligible to take out an additional $1,000 in federal stafford loans. Plus, next year you may not receive the same amount of grant money. You will either have to apply for private student loans, or your parents will have to take out a parent-PLUS loan to cover additional costs. Financial aid does not pay your rent. Some students receive refunds, which they can use however they'd like. Not all students receive refunds. It depends on your school's estimated cost of attendance. But, if you're already receiving the maximum in financial aid... there's nothing left for you to use to cover your living expenses. Unless your parents are willing to take out a loan to help you pay for a place to live (which I doubt since your father is unemployed), you'll have to work and pay for your own place. It will be much cheaper for you to live at home then it will be to live on your own. If you can get some scholarships, that money can go towards room and board costs (for living on-campus). Don't forget all the expenses that come with off-campus living: rent, utilities (water/sewer, electric/gas, trash removal), renter's insurance, transportation costs, cable, internet, phone, food, household supplies, etc).
 
It varies although, at least for me, off-campus housing including all utility costs, parking, and food is $3,000 cheaper than on-campus housing with the required meal plan. It's not hard to do the math, and if you plan on living with your older brother (who I assume already has his own place?) you can easily find out the projected rent, utility, and food costs for that place and compare them to the costs your school is charging you right now.

You will only get financial aid that "covers" rent if there is an excess amount in your financial aid for you to be refunded. My financial aid amount did not change by changing from on-campus to off-campus.
 
Back
Top