Affordability

LOW-INCOME SCHOLARSHIPS

Full-time UCSB Students living at the Merton House, and eligible for Financial Aid, can receive around $100 each month in scholarships. Merton House members will also receive $10,000 each year for interfaith specific programming. The house can use this funding to host interfaith speakers and dinners, organize interfaith film screenings, and other interfaith education and social events for their house and co-op community. The funds can also be used to send Merton House members to conferences with interfaith opportunities.

All 18 spots at the Merton House are reserved for low-income members, subject to verification. Income status is verified using your most recent tax return.

The income limits as of December 2016 are as follows:

Filed as Independent
1-person household: $43,200

Claimed as Dependent
2-person household: $49,350
3-person household: $55,500
4-person household: $61,700
5-person household: $66,600
6-person household: $71,550
7-person household: $76,500
8-person household: $81,400


CONTRACTS, RENTS & DEPOSITS

SBSHC offers both Academic Year and Summer contracts so you don’t have to worry about finding a subletter. In 2012, SBSHC saved it’s members over $200,000 in rent compared to average rent in Isla Vista and even more relative to on-campus housing. Our rental rates average 70% of market value. As a 501(c)3 not-for-profit, SBSHC members-owners set rent democratically to budget only for the year’s expenses and not to make a profit. In addition, we understand that sticky financial situations happen and offer opportunities for our members to create payment plans to pay down rent. Members can also take on compensated jobs to help manage the operations of their house. At the end of the 2012 academic contract, we returned an average of 94% Security Deposits based on peer assessments.


SHARED RESOURCES

The co-ops offer infinite opportunities to share resources and keep costs down. The communal houses share meals and buy food in bulk. That allows houses to purchase more food for less, averaging about $3.55 per person per day. The houses also share utilities and work together towards creating a more sustainable household. Shared gardens and fruit trees make for affordable produce, the tool library allows you to work on projects without having to purchase new equipment that you may end up using just once, and the texbook library can help keep school costs down. In addition to these shared resources, the communal houses all have furnished living rooms and fully equipped kitchens. While we are unable to guarantee room furniture, pieces are often passed down and around in the houses. Each of these shared resources helps keep down individual costs and builds social capital; that’s something you can’t put a price on!


Find our current rates: here.