im about to start a two year college that doesnt have on campus housing, will i be able to use my student loan money to rent an independantly owned apartment off campus??
2006-09-16 10:25:01 · 11 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Yes, you can do that, but when you run out of money for the semester, you'd better have a job to put more money back in your pocket. Also, if you are wise and don't want to be back at your parents eating meals regularly, do a budget. Get your Dad or your Mom to help. It shows a LOT of maturity and will help your 'rents feel better about you being on your own.
Keep in mind what we all learned when we first got out on our own: Murphy's Law is in full force and effect when you don't have a lot of money, so keep a little back for emergencies.
Good luck, hon.
2006-09-16 10:30:17 · answer #1 · answered by Peanut 4 · 0⤊ 0⤋
Its a loan and you can use it on whatever you want. Just be aware than you only get half of the loan amount each semester and then they only give it out 4 weeks AFTER the semester has started. So, if you borrow 4,000 for the year and all your tuition and fees and everything is covered the school will send you 2,000 4 weeks after your first day of classes for the fall and then again another 2,000 4 weeks after your first day of the spring semester. Just wanted you to know... many ppl think they would get the entire 4,000 before school even starts (to pay for an apartment or for deposits and such) and it just doesn't work that way.
2016-03-27 04:21:34 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes you may spend the money as you would like. I plan on buying a laptop so I have something to show for it. The government will make you pay most of this back but if you have better grades or take jobs that are in high demand then you can even end up with more money. Just remember that this money is to help with gas, food, rent, TUTORS, a car babysitting, and even a vacation which I may take if I earn it. It's a good incentive.
2006-09-16 13:49:45 · answer #3 · answered by Anonymous · 0⤊ 1⤋
If you applied through the school, anything that you owe they will take out automatically. Anything above will come back to you to spend as you see fit. But remember, it's a loan and has to be paid back with interest.
2006-09-16 10:31:40 · answer #4 · answered by brooklyncpl 2 · 0⤊ 1⤋
As long as the school gets their cut, the rest is yours for living expenses. It is to take into consideration that if you are a student you are probably not working full time.
2006-09-16 10:32:43 · answer #5 · answered by Crystal Violet 6 · 0⤊ 1⤋
its 4 everything u need 4 college
2006-09-16 10:26:21 · answer #6 · answered by sk8rchik57 2 · 1⤊ 1⤋
Yes in a rightful way.
2006-09-16 10:28:10 · answer #7 · answered by rajee 1 · 0⤊ 2⤋
You'll be paying it back four fold no matter how you spend it. You can spend it on women and booze and porn for all they care. Maybe you should. Maybe you should also consider a four-year school.
2006-09-16 10:27:36 · answer #8 · answered by . 3 · 1⤊ 2⤋
Yes you can! Just remember it has to be paid back one day.
2006-09-16 10:33:36 · answer #9 · answered by Little_Lilth 3 · 0⤊ 1⤋
Did you read the papers you singned?
2006-09-16 10:27:48 · answer #10 · answered by Anonymous · 1⤊ 2⤋