Yes. Students who need additional funds for off-campus housing can receive financial aid to cover these costs. However, it is important to note that landlords often require a security deposit, first-month's rent, etc. well before the start of the semester so students will need to make the appropriate arrangements prior to the receipt of their financial aid to secure their off-campus housing.
It is also important to note that financial aid is not credited to a student's account until the add/drop period of the semester has elapsed. After a student's registration status is confirmed, the financial aid and bursar's offices will work together to issue refund checks for these expenses once all University expenses are paid.