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

Can you use financial aid for a car?

  • My car recently died. It's so old and needed so many things that it's totaled. I go to school about 35 mins away and it is not efficient for me to ride a bus (it would take hours). Can I use some of my financial aid money to buy a cheap car ($1000-1500) for transportation to school?

  • Answer:

    That's ok with most private loans, but you're not really supposed to do that with governemnt loans (your FAFSA money.) Then again, a lot of people live off of their government loans and never get caught. Just remember, you'll have to pay that money back after you graduate.

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That's a big negative

sidesjeremy

Once all your bills are squared with the school, they will cut you a check for the excess funds. You can spend that money any way that you chose. If you get enough back, then go ahead and use it for a car. You cannot ask for additional funds to buy a car with.

Someone Else

yes

The Excellence Of Execution

i know people who used fin aid for rent, drugs, alcohol, etc...go for it! you have to get to school, right? :)

mel_han87

some churches actually donate cars, you might wanna check on that

Robnoypi

not sure if its possible check with your school

debz07

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