Income Qualifying Reserved Spaces

In September, 2023, the ICC Board of Directors passed the Proposal to Reserve Spaces for Income Qualifying Applicants. This proposal aims to develop and record metrics that demonstrate the ICC’s dedication to providing affordable housing to students, inform our scholarship processes, and ensure that we are serving members with demonstrated financial need. The proposal establishes that at least 30% of members in each ICC house must be Income Qualifying Applicants. Qualifying for a reserved space does not automatically qualify an applicant for any scholarships or charge reductions, but qualifying applicants are encouraged to apply for our existing scholarship options. Restrictions on any open spaces will be released on the last day of Winter term (May 5th, 2025), at which point applications will be processed on a first-come, first-served basis.

FAQ

How do you qualify?

Applicants will submit documentation to their Rent Manager portals, under the “Service Issues” tab.

• Domestic students: Provide your FAFSA Student Aid Index (SAI) for 2024-25 or your 2024-25 financial aid award notice from your college or university. Applicants with an SAI < 7395 or who are receiving a Pell grant will qualify an income-qualifying reserved space.
  • For future periods, the SAI requirement will be equal to the maximum SAI to receive a Pell grant.
• Non-students: Submit the first two pages of your most recent tax return (Form 1040). Applicants with an adjusted gross income (AGI) less than or equal to $28,760 will qualify for an income-qualifying reserved space.
  • Applicants for Baker [all room types], Escher Large Singles, and King apartments 2, 3, 4, and 5 have higher maximum AGIs.

  • Unit	AGI Maximum
    Baker Double	$32,120
    Baker SM Single	$34,040
    Baker LG Single	$38,240
    Escher LG Single	$30,360
    King Apt 2 – 1 bed	$47,200 if only 1 occupant
    King Apt 3 – 1 bed	$46,000 if only 1 occupant
    King Apt 4 – efficiency	$43,600
    King Apt 5 – 1 bed	$48,800 if only 1 occupant

  • For future periods, adjusted gross income must be less than or equal to 12 * ICC Central Campus charges / .3 [adjusted for units with higher rates]
    • >30% of income is going towards ICC charges.

How many spaces are reserved?

The ICC will reserve 30% of contract spaces in each house for Income-Qualifying applicants. Partial spaces shall be rounded to the nearest whole number.

Will non-income-qualifying current members still be able to renew their contracts?

• Current members signing during early bird (November 11th – December 17th) will be able to sign regardless of their income qualification. If a current member does qualify for a reserved space, they will count towards the 30% of spaces required to be filled by an income-qualifying applicant. If more than 70% of the house is NOT income qualifying, any contract replacements or swaps will need to go to an income-qualifying applicant. Current members who sign during the early bird period will still be able to drop their contracts within the early bird drop period.
• Current members signing during the standard signing period (January 6th and later) will be subject to the same signing requirements as new members, so if 70% of the house is filled with non-Income Qualifying members, any additional open spaces will only be offered to income-qualifying applicants.

How was the 30% number decided?

• The ICC conducts membership surveys every other year, obtaining demographic information of current co-opers. Survey information was analyzed in a report here, showing that in past years 40-50% of ICC members have had family incomes of $0-$49,999. This proposal is a commitment to continue to serve and support low-income members, especially with the knowledge that lower income students are more likely to search and apply for housing later than their higher-income counterparts (also shown in the report linked).