A: The Housing Deposit is $800 and must be paid to confirm your acceptance of a Housing License Agreement. It’s payment towards rent in advance and will be credited on your bursar account towards rent (masters students), deducted from your first month’s rent (employees or PhD students paying by check), or credited towards your payroll deduction amount (employees or PhD students). The Security Deposit is a required payment made on or before move in and will be returned to you when you move out, assuming no damages or excessive cleaning is required. The Security Deposit amount varies by apartment type and can be found on the Residences page.