Fed Financial
Does Financial Aid and the Stafford Loan cover housing?
I am planning on transfering to a school far away from where I am currently living and I can't afford to pay for a place on my own. I was wondering if Financial Aid and the Stafford loan put housing like a studio apartment into consideration.
Public Comments
- Yes. Most schools have on and off campus housing as part of the COA (Cost of Attendance). Talk to a financial aid officer at the school you wish to transfer to for more information/guidance. Good luck!
- They definitely consider campus housing, no matter what kind. As far as financial aid goes, if you have a surplus of money after everything you need has been paid for, that money is yours to do whatever you please with. (This includes money from loans) For any specific financial questions like this it's always best to get in contact with the university's financial aid department. Look on their website, I'm sure they're listed in there. Hope this helps, best of luck!
- The Stafford loan covers whatever you want it to. You just have to qualify. Just tell your aid administrator that you need more loans and they will give them too you no matter what circumstance usually.
- There is a cap on how much stafford money you can receive during the year (this is dependent on what level you are in school, i.e, freshman, sophomore, etc.). Whether or not you will have money to pay for your apartment, depends on how much money you have left after your tuition is paid.
- They will offer you an amount and once you get the form you can check what you want to accept for instance it could look like this: Your name Grant 1 $500 yes no Grant 2 $3,000 yes no Loan 1 $10,000 yes no Loan 2 $3,000 yes no The grants and loans will have names of course but you get the picture. If you need it all for schooling and housing than check yes to all you need to cover it. My grants and loans paid for tuition, books, and housing. Hope that helps! Alicia
- You should be able to use a Stafford Loan for anything you need related to your education. To be sure just double check with the lending institute giving you the loan. Check below for more information.
