If you are considering living in College Row, College Hill (Lofts), or the James Street Properties (College Approved Off-Campus Housing), and you receive need-based financial aid, listed below are some important points for you to know as you make your decision.
You are encouraged to make an appointment with your Financial Aid contact to see if your financial aid package will cover your off-campus housing expenses.
For detailed information regarding off-campus housing expenses and options, visit the Residence Selection website or contact Ms. Lori Foust.
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 responsible for the security deposit.
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.
If you choose to live in the James Street Properties, you will be billed by the College for housing/rent, tuition, fees, and a meal plan, if you decide to have a campus meal plan.
A student's Federal cost of attendance 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 check, 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. Refund checks are distributed by Student Accounts to your campus mailbox.
- 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.