How Much Does Fafsa Cover Housing

Does Housing on a FAFSA Affect the Award? | The Classroom Does Financial Aid Cover On-Campus Housing? - Frank Financial aid is money received as a result of filing FAFSA® and is meant to cover the cost of attending college. This means that financial aid pays for tuition, room and board, books, school supplies, and any other expenses related to the cost of going to school. Room-and-board refers to housing, which means that your financial aid can cover both.