Can I put unused student loan funds on my credit card?
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Here is kind of a weird question....I'm receiving a student loan right away as I will be a full time student. $10,000 is for my tuition, books, and supplies and I'll also receive $10,000 which will be divided and distributed monthly for living expenses for the year. The tuition money is only $7095 and I will have an extra $3000 roughly in my account but my supplies are only about $1400 therefore I'll have about $1600 left over. I could save it and put it back on the student loan when it comes time to pay it back but I was thinking I should put it on my credit card to pay that down as my student loan is not due for payments for a year and a half. While I have the extra money now, I'd like to put it on my credit card. If that is paid off, I'll have an easier time paying back my loan if i don't have credit card payments to make. What do you think? Is it wrong to use some student loan funds to pay off my credit card? Can I get in trouble for this or would student loans care given it's basically just a loan to go to school and live because I'll be a full time student and not working. (stay at home mom as well). I'm in Canada so people from Canada with answers would be much appreciated just in case things work differently in the states. lol
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Answer:
See if you can request a disbursement this money will be given to you and you can use it for basically anything. Hope this helps Good Luck!
JL at Yahoo! Answers Visit the source
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