Finances

Financial Aid and Student Account Considerations for Off-Campus Housing

Students considering a move to off-campus housing are strongly encouraged to consult with both Student Financial Assistance (SFA) and Student Accounts before making a final housing decision. Moving off campus may affect a student's financial aid eligibility, award amounts, and student account balance.

Utilizing Financial Aid and Loans for Off-Campus Expenses

Students may elect to borrow loan funds in excess of their direct University charges to assist with educationally related off-campus living expenses, such as rent, utilities, and other housing costs. Students should consult with their assigned financial aid counselor to review borrowing options, understand the implications of additional loan debt, and develop an appropriate budget.

Budget Adjustment Requests

Students whose actual educational expenses exceed the standard Cost of Attendance (COA) established by SFA may request a formal budget adjustment.

To support a budget adjustment request, students may be required to provide documentation, including but not limited to:

  • Lease agreements
  • Utility bills
  • Receipts for eligible educational expenses
  • Other documented expenses as requested by SFA

Students are encouraged to work directly with their personal financial aid counselor to determine eligibility, understand documentation requirements, and complete the budget adjustment process.

Accessing Credit Balance Funds

Students planning to use financial aid overpayments for off-campus expenses should review the Student Account policy, How to Request the Issue of a Credit Balance, to understand the procedures for accessing available credit balance funds and the timelines associated with overpayment processing.

For students requesting credit balances for off-campus expenses, please note that fund availability must first adhere to your semester's enrollment and meet all requirements for disbursement from Student Financial Assistance. Student Accounts may not be able to expedite your request to meet outside/non-Sacred Heart University deadlines.