Off-Campus Financial Aid Policy

Students living off-campus—whether in apartments, sorority/fraternity houses, or other non-University housing—receive financial aid based on a standard assessment of off-campus living expenses in the Philadelphia area.

To-Do List for Off-Campus Residents

Many students on financial aid choose to live off-campus. Since you will be responsible for paying your housing costs directly to a landlord, it's important to understand your financial responsibilities and plan your budget carefully. You can view the standard off-campus undergraduate cost of attendance here.

Before signing a lease, review the terms carefully and consider the following questions:

  • Is your lease for nine or 12 months?
    Financial aid covers the academic year only—typically nine months of housing. If your lease is for 12 months, you will need to budget for the additional time on your own.
  • Have you planned for upfront rental costs?
    Financial aid does not cover initial rental expenses such as application fees, security deposits, first/last month’s rent, or moving costs. Be sure to budget for these out-of-pocket expenses.
  • Are you prepared for additional housing-related costs?
    Beyond monthly rent, expect to pay for utilities, furnishings, renters’ insurance, and occasional maintenance costs. These expenses should be factored into your overall budget.

Student Account Refunds

If your financial aid package (grants, scholarships, and student loans) exceeds your billed tuition and fees, you may receive a student account refund at the beginning of each semester. These funds can be used to pay for off-campus housing and related expenses. Learn more about student account refunds here.

For additional resources and guidance on off-campus housing, visit Penn Off-Campus Services.