Can you use student loans for anything?

Can you use your student loans for anything, or are they just for school?

  • Answer:

    Lemur v 102.1 knows the true answer. Your student loans are to be used for tuition, and specific related expenses etc. Anything that is excess, that you receive in the form of an overage check etc, is subject to audit AT ANY TIME by the department of education / financial institution. So if you want to use it for anything other than specific school related expenses that are listed as authorized, that's your thing, but you jeopardize any future loans / help with classes because if it's found out, you won't get another dime from the government - trust me, I had a friend that found this out the hard way - now they garnish his wages to pay back the $$ he spent 'fraudulently'.

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Other answers

If you have any left over after paying your tuition, then u can use them for whatever u please. Most loans will require that you attend school full time, however, if your tuition only adds up to, let’s say, $3000 and your loan is for $6000 then u will get a check from the school for the extra $3000 to do as u please.

Who

The truth is, you can use them for anything. Whatever is left over after tuition is payed out to you. It is for you to use for books, living expenses, school supplies, travel expenses, etc. So make sure you budget those, and if you have some leftover, you can use it to alleviate the college experience a bit. Anyway, you do have to pay it back, with interest, eventually.

jellybeanchick

i went to cal state school where tuition and fees was about $1,200 a quarter. I qualifed to get two checks of $1,100. So i was able to pay off my tuition with 1200, then spend the other 900 on parking passes, books....or lunch, gas, clothes. whatever. you can spend the remainder on what you want, but you still have to pay it back.

Sgt. Pepper

Once upon a time they told applicants that student loans were only to be used for getting through school and that you couldn't buy other things with them. What difference does it really make what you do with them as long as you pay them back and they make sure you will pay them back.

Future Citizen of Forvik

You can use them for anything, but I would highly recommend only using them for school related supplies and living expenses, and send the rest back. It really adds up after four years, and you'll be kicking yourself if you spent a bunch of it on useless junk.

GreatFish

Just school and school related expenses buddy. Books, pencils, tuition etc.

The Lemur v 1.02

student loans are just for school

Bananasayshi123

if you do your counseling at the beginning of your loan process and read what it says you would know. It is for school related expense.

bamaglory

school books and computer things for school is all and the basics

jonasbabe:D

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