Affording college apartments

sblake7
Sun, 11 Jan 2009 18:52:44 +0000

You didn’t say specifically, but I’m assuming that you currently get need-based aid from your College.

Remember that the college determines your “need” by subtracting your Expected Family Contribution (from FAFSA) from the school’s estimated Cost of Attendance (tuigion, room & board, books, and misc.). Currently, your COA doesn’t include room & board because you opted to live at home.

When you apply for aid for next year, you’ll indicate “off campus” for your living arrangement, not “at home”. Then the school will increase their COA by their estimated average cost of living off campus, including apartment and food. So your need will go up, and most likely your aid will go up.

Now it may or may not go up by the full cost of renting an apartment and buying food. Depends on the school, and on your ability to find cheap housing and your ability to be frugal with meals.

On the “accessing money” issue, I don’t really understand the problem. USPS will transport a check across the country in 3 days for 42 cents.