Can I use my financial aid money to buy a car?

Can i spend my remaining amount of my financial aid money?

• im just so curious of if i can spend my remaning amount of my financial aid money. it says on my paper remaning amount ;$ 4,721. i want to buy a car for school, but can i use it? im just scared to ask my school lol. i dont want to feel that i just go for the money.

• Answer:

  If the remaining money is from unused Federal student loan funds, it would be a violation of Federal law regarding U.S government funded student loans. Source. US Code, 20 USC Section 1097(a) http://www.law.cornell.edu/uscode/text/20/1097 This is a link to specific case law on the subject: http://caselaw.findlaw.com/us-5th-circuit/1232799.html I realize you feel you may need a car or another form of transportation (public transit, maybe?) or even walking or bicycling to campus. Federal student aid is intended to help cover the direct costs of attending college/univ. Until you can earn and save money to pay for the purchase of a car or become eligible to receive an automobile purchase loan, you will need to figure out another means to travel to/from campus. Some methods I used through all through my undergraduate years through the end of graduate school: walk, bicycle, take city/county bus, Greyhound bus service, carpooling and paying a friend to cover gas and other car related expenses. I could only afford to purchase a used car (my first car) a full year after I earned my master's degree. I realize it is tough. Welcome to the real world. Added: I am curious why your question is posted through Y!A Singapore. Librarians--Ask Us, We Answer! Find your local Public Library at: http://www.publiclibraries.com/ Find your College/University Library at: http://lists.webjunction.org/libweb/Academic_main.html Best wishes