I am planning to go to university of florida. I am driving a 95 honda civic it is still fine but im thinking if i keep driving it back and forth to orlando from gainesville to visit my family will eventually cause me problems.. I am thinking if i sign for a student loan for $15000 that they offer in school (perkins loans) and use the entire money to buy a toyota yaris so that i don't have to worry about car payments until i get my degree.. What do you guys think.. I want to buy a car that is $15000 or less but will last for long for college students???
2007-02-25 17:05:35 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
That all depends on your living expenses and if you are covered for all the basic necessities while living on campus. Are you dorming? Renting an apt.? Will you be working? Part-time? Full-time? (I don't recommend working outside of school.) Will you be on a work-study program? Did you receive adequate financial aid through loans and grants? Are you getting any Perkins loans/parent loans too? Did you file for FAFSA already before March 2nd? Don't forget all the important deadlines in March for all the different programs Federal and UF Financial Aid.I know Texas offers great financial help for their college undergrads so maybe you're in luck! But does that apply only to students who study within Texas? IDK I''ll ask that in Y! Answers. If you feel you are covered entirely solely for study and living then you might have a few thousand left over but be careful. You can do whatever you want with your financial aid check. But of course, you are not going to blow it on something other than what it's meant for. Some loans and grants are directed to tution as you know but I remember those checks you get in th e mail at the begining of the semester- They are very tempting! Remember, if you absolutely must buy a car you can always buy a pre-owned vehicle. Doesn't have to be NEW. You can buy used for about $8000 with low mileage. Here's the MILLION-DOLLAR advice: We all like new things and always are tempted to buy new in college. New clothing, shoes, new books, new computer, peripherals, new electronics, the latest toy etc. Plus all the entertainment and free-time expenses my god. If you want to save a ton of money forget all of that! You don't have to buy EVERYTHING NEW! Remember, college students are on a tight budget so take your financial aid very seriously. Study hard and have fun too. But limit yourself! College is super exciting. But it will happen so FAST you really won't even feel it. Very important four years! But don't be nostalgic though, those 4 years are SOOO QUICK I tell you, your parents won't even feel it! While in school, focus on school and good grades so you can graduate in time for your bachelor's degree and be ready for the next phase in life! You are still young. Don't make the same deadly error as other college students who get into debt because they splurged in college unnecissarily. NEW is nice but not always the answer. Seriously, why pay the full amount when you can get almost the same quality paying half or less? Books, cars, computers? You don't need it all BRAND-NEW! Learn to recycle and be resourceful! It will save you a lot of $ and heartache! One last key advice: SAY NO TO CREDIT CARDS! By all means! That is the BIGGEST MISTAKE you can make in your college career. You simply don't and won't need them! A college student is an easy target for creditors and your friends will show off that they have ten in their wallet. Trust me, you'll get the final laugh in 4 years! The best advice to give you is to mark all deadlines for financial aid. Stay on top of all the paperwork. Get your parents involved. Follow all the steps on time. Budget yourself. Plan ahead for ALL expenses even weekend expenses. Get only ONE emergency low-interest easy to understand credit card. Always remember what you sign. Keep records and READ THE SMALL PRINT! Sometimes flying home can be cheaper. Seriously! There are spring, summer and winter specials all year long. Plan ahead before spring break, summer break and winter session. You can save time and money on those trips home. You can even carpool or take the train home! The university life is a big challenge but there are numerous programs out there to help you for free. Including financial planning. Be active and get on the DEAN'S list! Be recognized and you might even earn a smooth ride. You never know who's watching! Can you imagine? Say you were an athlete, all the sponsorship you get! Even if you're not an athlete there is a lot of help out there for active students! You can do it! Remember, when you are NOT doing anything to help yourself, someone else is feeding off your plate. You got all the help there is FOR YOU- it's waiting to be served. All the best! GO GATORS!
2007-02-25 19:12:36 · answer #1 · answered by JDR 2 · 1⤊ 0⤋
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RE :Using student loan to buy a car?
I am planning to go to university of florida. I am driving a 95 honda civic it is still fine but im thinking if i keep driving it back and forth to orlando from gainesville to visit my family will eventually cause me problems.. I am thinking if i sign for a student loan for $15000 that they offer in school (perkins loans) and use the entire money to buy a toyota yaris so that i don't have to worry about car payments until i get my degree.. What do you guys think.. I want to buy a car that is $15000 or less but will last for long for college students???
2 following 9 answers
2016-12-03 08:48:53 · answer #2 · answered by ? 6 · 0⤊ 0⤋
I don't see why not.
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RE:
Using student loan to buy a car?
I am planning to go to university of florida. I am driving a 95 honda civic it is still fine but im thinking if i keep driving it back and forth to orlando from gainesville to visit my family will eventually cause me problems.. I am thinking if i sign for a student loan for $15000 that they offer in school (perkins loans) and use the entire money to buy a toyota yaris so that i don't have to worry about car payments until i get my degree.. What do you guys think.. I want to buy a car that is $15000 or less but will last for long for college students???
2016-10-27 21:41:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I was under the assumption that student loans are paid direct to the school for tuition, books and fees only. I am not sure, but have some experience with student loans. I don't think it is legal to use student loans for anything other than schooling.
Besides, if you keep fluids in your Honda and an occassional tune up it should last damn near forever. Pay for your college first, get your degree, a good job, than buy the car you want.
2007-02-25 17:12:18 · answer #4 · answered by ric9757 3 · 0⤊ 2⤋
Our daughter has student loans and we have a Parent Plus loan for college and have never seen a cent of the money. It is forwarded directly to the college.
2007-02-25 17:19:34 · answer #5 · answered by ? 7 · 0⤊ 0⤋
Don't buy a new car and go to school unless your name is rockfeller. Cars get trashed in school parking lots
2007-02-25 17:13:23 · answer #6 · answered by Thomas H 1 · 1⤊ 2⤋
that's an interesting question I hope you'll find some reasonable answers
2016-08-23 19:24:14 · answer #7 · answered by ferne 4 · 0⤊ 0⤋
Was wondering this as well
2016-07-28 09:04:21 · answer #8 · answered by ? 4 · 0⤊ 0⤋
ok.....
2007-02-25 17:17:31 · answer #9 · answered by Anonymous · 1⤊ 1⤋