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How does Low income apartments work?

Financial Aid & Low Income Housing?

  • I want to apply for a low income apartment, and my only income is Financial Aid. I am curious as to how they go about figuring out rent. I have a grant, and a loan. The grant by the time I get the refund check is just about gone due to classes and fees. The loan check that comes in is a little less than $1800 and is for me to live off of for THREE MONTHS. ALSO, on the financial aid website it gives me an overview "estimating" about how much money is for which fundings. (i.e. they divide my money out based on Fees, Tuition, Transportation, Room & Board, etc...) Mind you they only give an estimate, and it's just a guide to work off of. So what I am wondering is how the low income apartments (which usually take 30% of your income for rent) go about deciding how much I'd pay for rent. My question is, do you think they'd go off of my TOTAL GRANTS AND LOANS (even though I don't see much of the grant), or would they go off of JUST THE CHECK that I do receive for myself?? ALSO, would they work with me to divide my income amount into 3 and and use 30% of 1/3 of my money, since I only get one check every three months? Or would they possibly go off of what my financial aid papers say online for "room and board"? Sorry if this got confusing, I'm really stressed out about this.

  • Answer:

    Low income apartments are subsidized. It is not legal to use them for student housing. Like it or not you are talking about HUD, HUD manages all of that.

Danielle B at Yahoo! Answers Visit the source

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In the United States, almost all public low income housing is impacted. Places like Los Angeles, San Franciso, Boston are not even accepting applications and haven't for 2+ years. If your location is accepting applications, every applicate can expect a 4-8 year wait = as a single, college student that wait would be longer than that. You would have a solid career and income before you ever were even considered. Remember your financial aid does take into consideration your living expenses, so you would probably be ineligible before you even started.

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