Off-Campus Financial Aid Policy
Students who live off-campus (e.g. in an apartment or sorority/fraternity house) receive financial aid based on an assessment of off-campus living expenses in the Philadelphia area.
To-Do List for Off-Campus Residents
Students on financial aid often choose to live off-campus. Because you will be responsible for paying your landlord directly, it is especially important that you understand your budget and plan accordingly. You can view the standard off-campus undergraduate cost of attendance here.
Review the terms of your lease and ask yourself the following questions:
Is your lease for nine months or 12 months?
Financial aid packages are for the academic year only—for most students this means nine months of housing.
Have you budgeted for the initial costs of renting?
Keep in mind that financial aid does not cover application fees, costs that must be paid in advance (such as security deposits or first/last month's rent), and moving expenses.
Have you budgeted for charges aside from monthly rent?
In addition to rent, you can expect to pay for utilities, furniture, renters insurance, and incidental maintenance costs
Student Account Refunds
If your financial aid (grants, scholarships, and student loans) is greater than your billed tuition and fees, you will be eligible for a student account refund that you can apply toward your housing expenses. Read more about student account refunds here.
For more information about living off-campus, please visit Penn Off-Campus Services.