Financial Resources and Considerations
The information listed below was compiled by Todd Everett, Director for the Office of Financial Aid. For more information about financial aid and moving off campus please go to the website for Financial Aid at http://www.xavier.edu/financial%2Daid/.
- If you move off campus and are on financial aid, your financial aid award will not change.
- When a student lives off campus the financial aid office uses the average room and board charges for determining what it may cost a student to live off campus. The financial aid office will process student/parent and private loans to cover the commensurate costs in any given year.
- If you borrowed additional loans to cover living on campus you will be issued a refund at the beginning of each term to pay off campus expenses. Students will not receive any refunds until their tuition and fees owed to the university are covered. Refund checks may be issued after your first month’s rent is due. So, students should plan to set money aside to cover the security deposit and first months rent.
- The financial aid office does not include expenses such as security or utility deposits in financial aid calculations. This is due to the fact that the student will most likely be issued that deposit back when they move out of the premises. Plan on setting this money aside prior to signing a lease or signing up for utilities.
- Living off campus is not necessarily less expensive than living on campus so please budget accordingly, especially when you may receive a refund that is intended to last the entire semester.