1. Ìð¹ÏÊÓƵ Housing and Residential Life
  2. For Residents
  3. Contract Buyout

Contract Buyout

Once an individual has signed the contract on the Housing Portal, the Ìð¹ÏÊÓƵ is then placed in a legally binding contract with the Ìð¹ÏÊÓƵ of Ìð¹ÏÊÓƵ at Lafayette's Office of Ìð¹ÏÊÓƵ Housing. If the Ìð¹ÏÊÓƵ wishes to request termination of that binding contract, the Ìð¹ÏÊÓƵ must complete a contract buyout request form. All buyouts are reviewed individually and a decision is emailed to the Ìð¹ÏÊÓƵ's Ìð¹ÏÊÓƵ email. 

  • The Ìð¹ÏÊÓƵ must email oncampusliving@louisiana.edu to request the form be activated
  • Full instructions will be sent to the Ìð¹ÏÊÓƵ's Ìð¹ÏÊÓƵ email
  • Complete the Contract Buyout Request Form
  • Allow 5-10 business days for the paperwork to be processed and for you to receive further instructions
  • You must be approved for a contract buyout to be released from your Housing Contract.

Reasons for Contract Buyout

  • Medical: Documentation from a licensed medical professional should be provided to support a medical release.
  • Financial: Any documentation that would support a significant change in financial status since the housing contract was signed must be submitted. This documentation could include but is not limited to information such as loss/change of financial aid, a letter indicating the amount of contributions being made to your education expenses, verification of FEMA loss, employment termination, etc.
  • Academic: Any documentation that would support an academic change must be submitted. This documentation could include but is not limited to an official Ìð¹ÏÊÓƵ correspondence verifying your withdrawal (academic suspension, resignation, or graduation) from The Ìð¹ÏÊÓƵ of Ìð¹ÏÊÓƵ at Lafayette or official acceptance to another institution.

After the form has been submitted with supporting documentation, the request will be flagged for administrative review. This process could take between 5 – 10 business days. After a review, the Ìð¹ÏÊÓƵ will receive an email with the official contract buyout process decision.

Note: This is not a guarantee of release, but simply a request.

Ìð¹ÏÊÓƵs should NOT sign another lease with an off-campus property until after receiving written approval of the Contract Buyout.

Cancellation Fees

All cancellations will forfeit the application fee and prepayment ($250) plus the following:

  1. June 10 until check-in: $250 cancellation fee
  2. Check-in until the 14th class day: $500.00 Fall cancellation fee and $250.00 spring cancellation fee
  3. 15th class day until the end of the Fall semester: Proration of charges until the key is returned and $250.00 Spring cancellation fee
  4. January 1 until check-in: $250.00 cancellation fee
  5. Check-in until the 14th class day: $500.00 penalty charge
  6. 15th class day until the end of the fall semester: Proration of charges until the key is returned

All cancellations will forfeit the application fee and prepayment ($250) plus the following:

Spring Only Contract

  1. January 1 until check-in: $250.00 cancellation fee
  2. Check-in until the 14th class day: $500.00 penalty charge
  3. 15th class day until the end of the Spring semester: Proration of charges until the key is returned

All cancellations will forfeit the application fee and prepayment ($250) plus the following:

Summer Only Contract

  1. May 1 until check-in: $250.00 cancellation fee
  2. Check in until 14th class day: $500.00 penalty charge
  3. 15th class day until end of summer semester: Proration of charges until key is returned
  1. Graduating during the Term or academically ineligible to return: No cancellation fee
  2. Move out as a result of disciplinary action: Payment in full for full Term of Contract
  3. Move out for force majeure or the convenience of the Ìð¹ÏÊÓƵ: Prorated fees as of move out date