Common use of Change of Circumstance—Financial Clause in Contracts

Change of Circumstance—Financial. Petitions may be approved in cases where significant, unforeseen and involuntary financial circumstances demonstrate that Resident is in a state of compelling financial need. A petition based upon a financial change of circumstance will not typically be approved based solely on the presence of a more affordable housing option. Resident is advised to provide documentation to show that all possible financial resources (parents/guardians, student earnings, federal, state, and University financial assistance, educational loans, etcetera) have been utilized and the Resident is still unable to meet their financial obligations under this Contract while remaining at the University. Educational loans are considered a reasonable means to meet a Resident’s financial obligations under this Contract.

Change of Circumstance—Financial. Petitions may be approved in cases where significant, unforeseen and involuntary financial circumstances demonstrate that Resident is in a state of compelling financial need. A petition based upon a financial change of circumstance will not typically be approved based solely on the presence of a more affordable housing option. Resident is advised to provide documentation to show that all possible financial resources (parents/guardians, student earningsearning, federal, state, and University financial assistance, educational loans, etcetera) have been utilized and the Resident is still unable to meet their financial obligations under this Contract while remaining at the University. Educational loans are considered a reasonable means to meet a Resident’s financial obligations under this Contract.