Living off campus is no easy task, especially when many students rely on financial aid to pay their rent.
But many apartment complexes have started a financial aid deferment program that makes it easier for students to pay their monthly obligations. The program allows students to use their net checks to pay rent for the semester.
Charles Reed, a leasing agent for Lynd properties, thinks the program is useful for students.
“Many students have to wait for their refund check to arrive before they can pay, and the check may arrive long after rent is due,” Reed said. “With the program, [students] don’t have to worry.”
Hillary George, a Student Housing Solutions representative, also sees the program as valuable to students.
“The deferment helps students because they won’t have to pay late fees or risk getting evicted while waiting for their financial aid to come in,” said George.
Students must pay the first month’s rent to be eligible for deferment. They must also sign an agreement stating the semester the student is seeking to defer will be paid in full when the net check is disbursed with no late fees. Deadlines to sign up for deferment depend on the apartment complex.
Melissa McKnight, a third-year criminal justice student from West Palm Beach, likes the idea.
“I’ve used deferment before and it has helped me a lot because I never know when my net check will be disbursed,” said McKnight.
Apartment complexes that offer deferment:
The Park at Forest Ridge
The Park at Midtown
Charter Oaks Ridge
The Gateway at Seminole Suites
The Cottages at Magnolia