There’s much to consider financially when moving into off-campus housing at BU. The good news is that it’s not that complicated to make a move when students ask the right financial questions. Here are some of the most-asked questions students have about paying for off-campus living.
Does Financial Aid Cover Student Apartments
Students receiving financial aid for room and board should be allowed to use the money to live in student apartments off campus. Make sure to choose an apartment complex that works with students and speak with the financial aid office to double-check the requirements for one’s specific financial aid package.
How Long Does the Contract Last?
Rental agreements for most student housing begin in August and run through July of the following years, totaling 12 months. Students who are graduating early, studying at the university for only a semester, or who need shorter leases for other reasons should speak directly with the property management staff to determine if shorter leases are available.
What Is a Financial Guaranty?
Financial guaranty shows that the student has the means to fulfill their lease. A financial guaranty can be a parent or a third-party guarantor determined by the apartment complex. Another way to meet the financial guarantee requirement is to pay the final two installments upfront.
How Soon Should One Apply for Housing for the Best Rates?
If students want the cheapest rate, they should apply for a 4-bedroom apartment. The rent is split four ways but apply for housing soon because student apartments rent fast.
