The University asks all students intending to live in on campus to submit a Housing contract guarantee, payable by credit card or e-check at the time of signing their Housing contract. Students sign their Housing contracts utilizing their MyHousing application on MyFSU. The contract guarantee is used to ensure the contract terms and conditions are met. The contract guarantee is forfeited any time a student fails to meet the complete terms of the Housing contract (such as early withdrawal from Ferris State, etc.). The contract guarantee is carried over from year to year so long as the student chooses to live on campus. The contract guarantee for Residence Halls is $200. The contract guarantee for the East Campus Suites and Apartments is $400 which requires the submission of an additional $200 from residence hall students looking to move to the suites or apartments.
At the end of any academic year in which a student is eligible and decides not to live on campus for the coming year, and so long as all the terms of the Housing contract have been met, the contract guarantee is refunded. The refund is credited to the student’s account and applied to any outstanding balance owed the University before being refunded to the student. Contract guarantees are typically applied to student accounts in late May or early June.
Financial Aid is generally not applied to pay the Housing contract guarantee.