Can you use student loans for anything?

Best Private Student Loans?

• I am getting the government loans and grants but I want to pay off my credit cards, take more classes, and work less. What would be the best private student loan to look into? I just graduated with an associates and am going to university of phoenix online. Also can you use this money for anything? How much could I possible get? any help would be appreciated. By the way I have a co-signer with excellent credit.

• Answer:

  Private student loans are meant for educational expenses, I don't think you will be able to use the funds to pay off credit cards. The amount is based on the cost of your education meaning tuition, books, various fees, rent/housing, food, computers, utilities. Minus the amount of federal student loans you're already getting. The maximum is $40,000 per year. But they have a higher interest rate than your federal loans. It's best to take out only the amount you absolutely need so as not to dig your self into a deep financial hole when you get out of school. Theres more information about private student loans at sites like http://www.PrivateStudentLending.com and http://www.StudentLoanConsultants.com has rates and fees from various lenders.