Lana Oconnell
Paying for rent while in college can be a daunting task, and many students turn to the government for financial assistance. While the government does not provide direct rent subsidies, there are various government-sponsored programs and financial aid options available to help students with their living expenses. These include federal grants, loans, work-study programs, and housing vouchers. Additionally, colleges and universities often offer guidance and resources to help students secure housing and manage their finances. Students can also explore scholarships, grants, and private loans to supplement their financial aid packages and ease the burden of rent payments during their college years.
| Characteristics | Values |
|---|---|
| Government assistance | Government-sponsored programs for individuals at risk of housing insecurity. College students can be eligible for a housing choice voucher depending on their income. |
| FAFSA | The FAFSA can give students access to Pell Grants, Federal Supplemental Educational Opportunity Grants, Teacher Education Assistance for College and Higher Education Grants, and more. |
| Scholarships | Scholarships are the easiest way to acquire money for school and rent that does not need to be paid back. |
| Grants | Grants do not need to be paid back. However, they often require that students show demonstrated financial need and may have basic academic requirements. |
| Student loans | Both private and federal student loans can be used to pay rent, but the type of housing can impact the amount of debt to be repaid. |
| Work-study | Federal Work-Study provides students with a part-time job to help pay for school. |
| Resident Assistant | Resident Assistants get free housing, a meal plan, and are paid hourly. |
| Charities | Catholic Charities offers one-time help for students in need, including paying for security deposits, first month's rent, and other fees. |
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What You'll Learn
Student loans and grants
Student loans can be used to pay for rent, whether it is on-campus or off-campus housing. The college deducts tuition and fees from your student loan, and the remainder is yours to spend. However, it is important to remember that every dollar spent on rent from your loan will need to be repaid with interest. The type of housing you choose will also affect the size of the debt you will need to pay back.
There are both private and federal student loans. Federal loans are issued based on the FAFSA (Free Application for Federal Student Aid), while private loans require approval from private lenders. Private loans may require a credit check and income verification. Federal loans usually have lower interest rates than private loans, but this depends on the student's credit score, income, and if they have a cosigner.
There are also grants available to students to help with rent. Grants, like scholarships, do not need to be paid back. However, grants often require students to show demonstrated financial need and may have basic academic requirements. The most common types of grants are federal grants and state-based grants. Federal grants are funded by the federal government, while state grants are funded by each individual state. Examples of federal grants include the Federal Supplemental Educational Opportunity Grant (FSEOG), which is available on a first-come, first-served basis, and the TEACH Grant, which is given to teachers who teach in underserved areas after graduation.
In addition to loans and grants, students can also consider applying to be a Resident Assistant (RA) to help with housing costs. RAs typically receive free housing and may also receive a meal plan and an hourly wage. However, being an RA comes with responsibilities, as you will be in charge of a group of students. Another option is the Federal Work-Study program, which provides students with part-time jobs that allow them to pay for school. However, work-study can be hard to qualify for as it requires demonstrated financial need, and there are a limited number of spots available.
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Scholarships
The first step in applying for financial aid is to fill out the FAFSA (Free Application for Federal Student Aid). This will give you access to Pell Grants, Federal Supplemental Educational Opportunity Grants, Teacher Education Assistance for College and Higher Education Grants, and more. The FAFSA can also be used to apply for federal loans, which can be used to pay for room and board, whether on or off-campus. However, it is important to remember that any money taken as a loan will need to be paid back with interest.
There are also scholarships and grants available that are not provided by the federal government. Many are based on financial need, but some are also based on merit. These include the Opportunities Grant, which is intended to help low-income students complete their degrees, and the Law Enforcement Officers' Dependents Scholarship (LEO), which provides an eight-semester scholarship to any state-supported college, university, or technical institution in Arkansas for dependents of Arkansas residents who were killed or permanently disabled in the line of duty. The award can be used to reimburse dormitory charges in campus-owned facilities.
Another option for students struggling to find affordable housing is to apply to become a Resident Assistant. Most RAs get free housing and occasionally a meal plan, as well as being paid hourly. However, it is a position of responsibility as you will be in charge of a group of students.
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Work-study and part-time jobs
The Federal Work-Study (FWS) program is a great way for students to earn money through part-time work. Students with financial need who file the Free Application for Federal Student Aid (FAFSA) may be eligible for the program. Students in work-study earn at least $7.25 per hour—the federal minimum wage. Additionally, paid internships can help students pay their rent and open doors for full-time work after graduation.
There are several other part-time job opportunities for college students that can help them pay their rent. These include:
- Nanny or babysitting services, which can pay around $15 per hour on average.
- Food delivery services, which offer flexibility and lucrative tips.
- Research assistantships, which can provide a paycheck and a stepping stone into your chosen field.
- Teaching assistantships, which usually cover part of the tuition.
- Online tutoring, which provides flexibility for college students to work from home and earn money based on an hourly rate of their choosing.
- Brand ambassador roles, which involve marketing products in fun and engaging ways.
- Bank teller jobs, which offer good pay and reliable hours, with respect for student schedules.
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On-campus vs off-campus living costs
The cost of living on-campus or off-campus is a significant factor for students when deciding where to live during college. There are pros and cons to each option, and it is essential to consider all the costs and benefits to make an informed decision.
On-Campus Living Costs
On-campus living provides benefits such as convenience and predictable costs. Students do not need to worry about finding parking on campus, cooking or grocery shopping, and most on-campus resources and activities are easily accessible. The university manages many of the expenses through a bursar or financial office. The cost of a dorm room varies depending on the school and the type of dorm, and students may have limited options to cut costs, with many colleges charging a flat rate. A campus meal plan is usually included in the cost of room and board, but dining halls may not provide adequate options. The average cost of room and board for a four-year college is $12,770, but this can vary depending on the institution type. According to the College Board, students spent an average of $9,330-$13,620 on room and board for the 2021-22 academic year. The average price for a meal plan in 2016 was almost $19 per day, which is higher than the average daily food budget for a single adult household.
Off-Campus Living Costs
Off-campus housing provides more flexibility and independence, and it can be more affordable, especially if living with roommates. However, there are additional costs to consider, such as utilities, furniture, transportation, and security deposits. The cost of renting an apartment off-campus depends on the location and the type of housing. Rent prices vary widely across the country, and in some college towns, limited availability can mean paying higher prices for low-quality accommodations. For example, the median rent for a one-bedroom apartment in North Dakota was around $679 per month in April 2022, while in Hawaii, it was $1,817. Students can expect to pay around $1,137 per month for a one-bedroom apartment nationwide. If renting an unfurnished apartment, students will need to budget for furniture and other essentials. Off-campus living may also require a security deposit, which is typically not needed for on-campus housing.
Financial Assistance
There are various options for financial assistance to help with the cost of living during college. Student loans can be used to pay for both on-campus and off-campus housing, and both federal and private loans are available. Federal loans are issued based on the FAFSA, while private loans require approval from private lenders. Grants, scholarships, and government assistance programs can also help with living costs. Students can apply to be a Resident Assistant, as this usually comes with free housing and sometimes a meal plan, as well as an hourly wage.
The decision to live on-campus or off-campus depends on various factors, including budget, lifestyle, and personal preferences. While on-campus living may offer more convenience and predictability in terms of costs, off-campus living can provide more flexibility, independence, and potentially lower overall costs, especially when sharing with roommates. It is important to carefully consider all the associated costs and benefits of each option before making a decision.
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Housing choice vouchers
The US government offers several options for college students struggling with rent payments. One such option is the Housing Choice Voucher Program (HCVP), also known as Section 8. This program helps low-income families, elderly persons, veterans, and disabled individuals afford housing in the private market.
The HCVP is funded by the US Department of Housing and Urban Development (HUD) and administered by around 2,000 Local Public Housing Agencies (PHAs) across the country. The program allows participants to choose any eligible housing unit, including single-family homes, townhouses, and apartments, with rent partially covered by a subsidy paid directly to the landlord.
To be eligible for the HCVP, applicants must meet certain requirements, primarily based on their annual income and family size. Once selected from the waitlist, participants are responsible for finding a home and completing the Request for Tenancy Approval (RFTA) packet to initiate the approval review process. The landlord must also complete and sign portions of the RFTA, and the chosen property must meet health and safety standards. The Public Housing Agency will then determine if the proposed rent is reasonable for the area and may negotiate with the landlord if necessary.
The HCVP helps participants afford housing by paying a portion of their rent, typically 30-40% of their adjusted monthly income. The specific amount is calculated by the local housing agency and is based on local rent prices and unit size. It's important to note that this payment standard is not a rent limit, and participants can choose a more expensive unit by paying the difference.
In addition to the HCVP, college students facing housing insecurity can explore other options, such as applying for scholarships, grants, and federal aid through the FAFSA. They can also consider sharing living spaces with roommates to reduce monthly expenses or applying to be a Resident Assistant, which often comes with free housing and other benefits.
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Frequently asked questions
The government can help pay a college student's rent through federal grants and loans. Grants are preferable as they do not need to be paid back. Filling out the FAFSA is the first step to accessing federal grants and loans.
Examples of federal grants include Pell Grants, Federal Supplemental Educational Opportunity Grants, Teacher Education Assistance for College and Higher Education Grants, and Iraq/Afghanistan Grants.
Federal loans are issued based on the FAFSA. They typically have lower interest rates than private loans, but this depends on the student's credit score, income, and if they have a cosigner.
Yes, there are many other ways to get help with rent as a college student. These include scholarships, private loans, part-time work, and applying for on-campus positions such as Resident Assistant roles.
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