when borrowing tuition, can you borrow extra money to pay off existing credit card debts ?

Answer 1

government loans base the amount of money you get on what they think you need. they figure in tuition, books, room, gas, etc. What you want to do with the extra money after you have paid tuition and book is your decision. The school should send you a refund check if you will allow them to apply what they need for tuition to your account. So yeah. it's your money. I plan on doing the same thing next semester when I get the rest of my loan money back. The interest rate is so much better than those addictive credit cards.

Answer 2

If the money comes from the government the portion unused for tuition is sent to you in a check and can be used for anything. If the money is a student loan once again you can use it for anything you choose. Just remember that everything you borrow has to be paid back with interest and there are maximum amounts you can borrow. Unpaid student loans hurt your credit rating more than most any other debt so be careful how you spend them.

Answer 3

There are certain limits on loans so there is a maximum you can take out.