21st Century Scholars Program, Indiana University Bloomington Living

21st Century Scholars Program, Indiana University Bloomington Living Off-Campus as a Scholar Logistics and “How to” INDIANA UNIVERSITY BLOOMINGTON

Financial Aid: What aid goes toward my refund so I live off-campus?

21CS Only Covers Tuition FINANCIAL AID 21st Century Scholarship covers 100% of tuition and the mandatory fees IUB Cost of Tuition & Fees 23-24: 11,560 per year ; 5,780 per semester The 21st Century Tuition Scholarship does not pay for a student’s housing, meal plans, books or other expenses Tuition and fees are paid directly to the University and cannot be used for anything else. All of your other financial aid that is not used for tuition (21CS), will make up your REFUND amount! INDIANA UNIVERSITY BLOOMINGTON

The Covenant (21CS Only) FINANCIAL AID The 21st Century Scholarship Covenant award is available to 21st Century Scholars who demonstrate unmet financial need. The Covenant is an automatic financial award—it does not require a separate application. The amount of the award varies by each student’s financial aid profile. The 21st Century Scholarship will cover the costs of tuition and mandatory fees. For eligible students who have unmet financial need after other scholarships or grants are applied, the Covenant will provide additional funding to assist with budgeted housing and food, books, and supplies. In order to renew the Covenant after your freshman year, you must: Maintain continuous enrollment at IU Bloomington. Complete your FAFSA by April 15 each year. Meet all scholarship requirements set by the 21st Century Scholar state office. Maintain satisfactory academic progress. INDIANA UNIVERSITY BLOOMINGTON

Non-Tuition Aid You do not need the Covenant to live off campus! Other types of non-tuition aid: Hudson & Holland Scholarship GROUPS Scholarship Provost’s Scholarships Federal Grants & Loans And external aid from community organizations INDIANA UNIVERSITY BLOOMINGTON FINANCIAL AID

Semester Refund Estimate FINANCIAL AID You can use this semester's Bursar charges as a partial estimate of your refund to budget for the upcoming semester Your estimate may be reduced if loan amounts are declined Semester Refund Estimate Formula: refund from this semester (if applicable) fall room charges fall meal plan charges semester refund estimate You will receive a refund each semester! Your estimate may be around the 5,000 to 7,000 range per semester. INDIANA UNIVERSITY BLOOMINGTON

Semester Refund Estimate FINANCIAL AID Semester Refund Estimate Formula: refund from this semester (if applicable) fall room charges fall meal plan charges semester refund estimate “Correct” Semester Refund Estimate Fall Semester: 1,623.68 (refund) 3,410.50 (room charges) 1,900 (meal plan) 6,934.18 Spring Semester: 1,560.78 (refund) 3,412.50 (room charges) 1,900 (meal plan) 6,873.28 This estimate would be correct because the refund estimate is only between 5,000 and 7,000. INDIANA UNIVERSITY BLOOMINGTON

Semester Refund Estimate FINANCIAL AID Semester Refund Estimate Formula: refund from this semester (if applicable) fall room charges fall meal plan charges semester refund estimate “Incorrect” Semester Refund Estimate Fall Semester: 6,934.18 (refund) 2,318 (Covenant) 2,173 (grant) 11,425.18 Spring Semester: 6,873.28 (refund) 2,318 (Covenant) 2,172 (grant) 11,363.28 This estimate is incorrect because these are just types of funding your receive (Covenant, loans, grants) that go toward your semester Bursar charges and your refund. INDIANA UNIVERSITY BLOOMINGTON

Bursar Refunds : How do I get the refund to live off campus?

Bursar Charges and Excess Aid BURSAR REFUNDS When a student moves off campus, their bursar account will only be charged: Tuition and fees Course fees (i.e. late drop/add, online courses, e-textbooks, etc.) Major related fees Previous outstanding balances Parking tickets The remaining aid, or refund, will be distributed directly to students to budget accordingly. INDIANA UNIVERSITY BLOOMINGTON

Bursar Charges and Excess Aid BURSAR REFUNDS Charges can be posted to your Bursar account at ANY TIME which could: reduce your refund amount (if you haven’t already receive your refund) or leave an outstanding Bursar bill (if you have already received a refund) IU Apartments (3rd & Union, University East, Campus View, Rebud Hill & Tulip Tree only) Pay monthly or for the semester though your Bursar account INDIANA UNIVERSITY BLOOMINGTON

Direct Deposit for Bursar Refunds How to enroll in direct deposit Login to one.iu.edu Search for “Bursar Direct Deposit” Read the information and click “OK” Enter routing and account number needed INDIANA UNIVERSITY BLOOMINGTON BURSAR REFUNDS

Aid Disbursement BURSAR REFUNDS Fall 2023 begins August 21st and Spring 2023 begins on January 8th, therefore, you will not receive any funds before August 21nd and January 8th. Allow at least two weeks for processing You will not receive your aid/refund if you do not submit the FAFSA by April 15. You will not receive your aid/refund until you complete appeals, verification or any changes requested by Student Central. INDIANA UNIVERSITY BLOOMINGTON

Aid Disbursement BURSAR REFUNDS Rent is typically due on the first of every month, so prepay August and January’s rent and September and February’s rent, if possible, to avoid any problems Or you will need to make arrangements with your leasing company/sorority/fraternity or pay out of pocket until you receive your refund! For IU Apartments (3rd & Union, University East, Campus View, Rebud Hill & Tulip Tree only), you may be charged a late fee until you aid posts to your Bursar account. INDIANA UNIVERSITY BLOOMINGTON

Moving Off Campus: Where do I start?

MOVING OFF CAMPUS Important factors when looking for housing What is available? Start your housing search early as affordable housing is hard to find! Drive & call around! Have back up plans! Look into subleases or rooms for rent IU Classifieds Use off-campus support resources, housing finder sites: Rent College Pads Apartments.com Rent.com Off-Campus Living Resources INDIANA UNIVERSITY BLOOMINGTON Renting a room? Studio or 1 bedroom? Sharing a house or townhome? Student living apartments/townhomes? Renting a room or sharing an apartment/house will usually be the most affordable option. Do you know who you want to live with? Are your "friends" financially responsible? Living alone? Roommate matching?

Suggested Rental Companies Renaissance Rentals Burnham Rentals Mackie Properties Deer Park Management RPlace For You Homes Hunter Bloomington Properties INDIANA UNIVERSITY BLOOMINGTON

MOVING OFF CAMPUS Important factors when looking for housing Utilities included in rent? We suggest that scholars pay at most 700 for rent including all utilities or excluding at most two utilities, commonly electric or internet. If the lease doesn’t say otherwise, the utilities are probably NOT included in rent Are pets allowed? Is there an additional fee or deposit? INDIANA UNIVERSITY BLOOMINGTON Crashing with a friend (careful not to breach of your friend’s lease), commuting, temporary lease or RPS may be applicable for late move in dates

MOVING OFF CAMPUS Important factors when looking for housing Joint (all tenants sign same lease) or separate lease? Joint or traditional lease means if someone fails to make rent payments, all residents in the space are penalized (this includes subtenants and guarantors) A separate lease means you are responsible for your portion of the rent only Yet, you all will still split the utilities traditionally so choose roommates wisely INDIANA UNIVERSITY BLOOMINGTON What will you need to sign a lease? A guarantor is a person that agrees to pay your rent if you fail to pay. Guarantors will be required to have stable income and good credit. If unable to obtain a guarantor, tenants often can pay a deposit of two month's rent at the time of signing the lease.

MOVING OFF CAMPUS Important factors when looking for housing Don’t sign anything until everyone you want to live with is ready to sign! You are bound (meaning the landlord can enforce the lease against you) as soon as you sign, even if your intended roommates don’t end up signing INDIANA UNIVERSITY BLOOMINGTON Go to Student Legal Services for a FREE lease analysis before you sign a lease Please search for housing within your means and budget!

Other Needs to Consider and Budget MOVING OFF CAMPUS Aid Disbursement, Rent & Budgeting Save part of last semester's refund to pay for August & September? Work during the summer? Pay rent with refund only & work for other expenses? Other Bills Electric/gas deposit? Monthly bills split or solo? Phone? Internet? Water? Food: Meal plan? Eating out? Campus Access? Pet food? Crimson Cupboard Request Meal Points Transportation: Car, bus or foot? Car insurance? Maintenance? Shuttle offered? Books: Library reserves? Borrow? Rent? Buy? Split costs or share with classmates? INDIANA UNIVERSITY BLOOMINGTON

MOVING OFF CAMPUS Important Move In Points Ask questions! Check reviews! Read your leasing agreement thoroughly! Contact the landlord to schedule a joint move-in inspection (required by local ordinance). If the landlord won’t participate, do your own move in inspection—be sure to write down ALL defects! Take pictures of anything that isn’t perfect (carpet, walls, etc.) before you move in, even if there is no inspection INDIANA UNIVERSITY BLOOMINGTON

MOVING OFF CAMPUS Important Move In Points Have at least two back up plans to get to campus! Know your rent due date and check to see if there is a grace period! Pay up your rent every semester! Consult resources or reliable friends/family! Interact with neighbors, they may come in handy! Bloomington Housing and Neighborhood Development (HAND) inspects rental properties, responds to tenant complaints, and maintains a reviewable file on every rental property in Bloomington INDIANA UNIVERSITY BLOOMINGTON

Working/Student Loans: What if my refund won’t “cover” all my bills?

Working and Student Loans WORKING AND STUDENT LOANS If you’re going to work, you should not be working more than 18 hours, per week It is STRONGLY recommended to work no more than 12 hours per week! Use work study if offered! Scholars should work for extra spending money and/or to pay small bills ( 50 or less). Loans can be our friend! Scholars should especially consider using loans if having difficulties paying large bills, like rent, outstanding bursar bills, or essential needs. Utilize student loans before working more than 18 hours per week Take what you need, not just what is offered There is NO other funding available from the 21st Century Scholars Office, IUB or off campus to go toward your housing costs! INDIANA UNIVERSITY BLOOMINGTON

Realistic vs. Unrealistic Work Hours Realistic A job with two to four hour shifts only A job that allows downtime for readings or assignments A job that provides free meals/food during shifts A job with consistent scheduling and/or ask you to pick up shifts Working every other day or no weekends A job that allows you to create your own schedule A paid internship Examples: library attendant, monitor, peer educator/advisor, student ambassador, front desk, study tables attendant, organizational tasks INDIANA UNIVERSITY BLOOMINGTON WORKING AND STUDENT LOANS Unrealistic Working night shift Having multiple jobs with 6 hour shifts Labor intensive jobs Over-scheduling or not honoring other commitments Working everyday Working full time while taking full time credit hours Working to pay rent, eat, pay bills over 50, support others

Working and Student Loans WORKING AND STUDENT LOANS You can change the amount of the loan that you take out. Go to One, View/Manage My Financial Infor mation then select Accept/Decline Awards. Select Accept and enter the amount. Even if you take out loans or work, you can save more money living off campus than on campus. INDIANA UNIVERSITY BLOOMINGTON

Review

REVIEW Budgeting Suggestions Pay your rent up for at least six months each semester! Check your Bursar account and prioritize paying the balance or set up a payment plan! Budget next semester’s refund beforehand to pay it off or at least under the threshold. Put set amounts aside and/or on a designated card, like a Kroger gift card, for groceries, gas, etc. Set aside money for fun, eating out with friends, etc. INDIANA UNIVERSITY BLOOMINGTON Cash budgeting is strongly encouraged Be mindful of electric and water bills, cut things off! Campus meal points run out quickly, try meal prepping! Budget now for next semester using this semester’s refund amount! When budgeting, round down! Enroll in budget billing! Budget realistically! Try out new budget methods, find what works for you! Take advantage of used home goods to fill your living space! IU Classifieds and FaceBook Marketplace are great resources.

Sample Semester Budget REVIEW Refund Total 5,678 Expenses 700 Rent x 5 months (September-January) 3,500 Monthly Utilities (Electric(gas); water, trash, internet) 100 x 5 months 500 Groceries 150 x 5 months 750 Spending Allowance 100 x 5 months 500 Total: 5,250 per semester Savings Total (per semester) 428 INDIANA UNIVERSITY BLOOMINGTON

Take Home Points. The 21st Century Tuition Scholarship does not pay for housing, meal plans, books or other expenses. Other aid, like the Covenant, Pell Grant, supplemental grant, loans and scholarships can go towards non-tuition/ off campus expenses. You should receive a refund via direct deposit to go towards off-campus expenses. Meal plans are not required after freshman year and will reduce the amount of “refund” you receive. INDIANA UNIVERSITY BLOOMINGTON REVIEW No more than 700 for rent including all utilities. Aid always begins processing 10 days before classes begin so pre-plan to pay August and January’s rent. You never need to tell Student Central, the state or our office that you are living off campus! Whether you select on or off campus on your FAFSA, you refund will not change.

Questions or Concerns? Email Rebeca Hayes: [email protected]