How does moving off campus affect my financial aid?
A student’s financial aid is determined by subtracting the family contribution from the cost of attendance. The cost of attendance consist of tuition and fees, room and board, and books and personal expenses. When a student moves off campus, the on campus room and board component of his/her cost of attendance is replaced with an off campus living allowance. The off campus living allowance is approximately $2,000 less than the on campus budget. Therefore, because the University of Chicago grant is the last type of aid awarded, students who reside off campus will receive approximately $2,000 less than those residing on campus. The parental and student contributions are determined in the same manner regardless of the type of housing chosen.
