If you are considering living in College Approved Off-Campus Housing which includes College Row, College Hill (Lofts), or the James Street Properties (JSP), and you receive need-based financial aid, listed below are some important points to know as you make your decision.
You are also advised to:
Make an appointment with your Financial Aid contact to go over your financial aid package and determine if it will cover your off-campus housing expenses.
Visit the Residence Selection website or contact Ms. Lori Foust for detailed information regarding off-campus housing expenses and options.
YOUR FINANCIAL AID PACKAGE
College Row, College Hill, and James Street Properties are not F&M owned housing. If you choose to live in one of these options, your financial aid package will still be based upon a housing budget equivalent to a standard double room on campus.
All three housing options have a 12-month commitment of expenses. Your financial aid package is budgeted for a 9-month period of expenses. Therefore, you are financially responsible for: rent, utilities, meals, etc., during the three (3) summer months. You are also responsible for the security deposit.
COLLEGE ROW or COLLEGE HILL
If you choose to live in College Row or College Hill, you will be billed by the College for tuition, fees, and a meal plan, if you decide to have a campus meal plan. Your rent is paid separately on a monthly basis directly to the management company.
JAMES STREET PROPERTIES
James Street Properties also include Special Interest Housing. If you choose to live in the James Street Properties, you will be billed by the College for rent, tuition, fees, and a meal plan, if you decide to have a campus meal plan. Your rent will be included on your semester eBill.
- Your fall eBill will include the total amount of rent charged for the months of June - December (7 mos)
- Your spring eBill will include the total amount of rent charged for the months of January - mid-May (5 mos).
NOTE: The Arts House is also a James Street Property. However, the housing term dates are the same as on campus residence halls (9 months). Your rent will be included on your semester eBill.
FRATERNITY & SORORITY HOUSING
Available to students who hold membership in their particular organization. Some fraternity and sorority housing are located within the James Street Property (JSP) portfolio, others are owned by the college or by the organization itself. Students are responsible for confirming with their organization how payment for their housing is handled.
FEDERAL COST OF ATTENDANCE (COA)
A student's Federal COA is used to determine the budget for room and meal plan for living on campus is the same for living in College Approved Off-Campus Housing.
- If you find the cost of living in College Approved Off-Campus Housing higher, you/your parents may need to consider a Federal Direct Parent PLUS Loan or private student loan to make up the difference.
- Per Federal Regulations, the amount you are allowed to borrow is based upon your Federal cost of attendance minus any financial aid you may be receiving.
If you reside in College Row or College Hill and your rent is due prior to receiving your refund, you are responsible for making arrangements for paying your rent on time.
- Refunds for each semester will occur at least two (2) weeks after the semester begins. Student Accounts distributes refunds through direct deposit. Any questions regarding your refund should be directed to their office.
- Once your financial aid is disbursed against your billed tuition, if there are remaining funds, you will receive a refund provided you do not have an outstanding balance on your student account.
- The refund is for you to use toward your College Approved Off-Campus Housing rent, utilities, etc., and providing meals for yourself.