All full-time first-year and sophomores are required to live on campus and purchase a meal or declining balance plan. This residency requirement is published in the Undergraduate Bulletin of Information, on the university website, and in the annual Student Handbook. It requires students to live on campus for four consecutive semesters (not including summer term) or turn 21 years of age prior to opening day of fall semester in order to qualify to live off campus. Students may request exemption from the residency requirement. If a student enters into the Student Housing Agreement and later requests exemption from the requirement, there may be financial penalties for the student failing to honor the commitment of the agreement for the entire academic year. While an exemption from the On-Campus Residency Requirement might be awarded in a given case, often this triggers financial penalties under the Student Housing Agreement “Room Rates for Academic Year” clause, up to an including full remaining rates due.