2006-06-21 10:26:19 · 4 answers · asked by SPEEDRACER6 1 in Education & Reference ➔ Financial Aid
no the money is for your expenses while at school. But they will not ask you for proof of what you spend your money on
2006-06-21 12:38:11 · answer #1 · answered by Layla 6 · 2⤊ 0⤋
depending upon where you go to school and the expense of the school you could get enough to buy a car. It also depends on your level in school, a junior in college that is eligible for financial aid @ 100% can take out a rather large amount. Your pell grant will be around 2400, then you can take out around 5000.00 in subsidized and unsub. loans. Then you can request a perkins loans made through the school which is around another 1500. So if you qualify for that and your tuition is less you can spend the difference on a car or whatever you need to help you with school.
2006-06-21 14:10:36 · answer #2 · answered by mrcmltn 1 · 0⤊ 0⤋
After you get a student loan (granted that you are enrolled) you can do anything you want with your money.
Most schools make you apply for federal student aid before are approved for a loan (deadline is approaching).
2006-06-21 10:33:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, this is viewed as an allowable expense. You should check out http://lendersrated.com/studentloans.htm for a rating on lenders.
Hope it helps you...
karateross
2006-06-26 21:11:42 · answer #4 · answered by PaymentKey.com 3 · 0⤊ 0⤋