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How do people support themselves with student loans?
By admin | September 5, 2010
Jamie asked:
I hear of some people that go to school full time, and pay for their apartment, leaving expenses, etc. all on student loans. How is this possible? Isn’t the money from student loans supposed to go to classes, books, etc.? Is this even legal? I have been unemployed for 9 months and am exploring my options financially.
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I hear of some people that go to school full time, and pay for their apartment, leaving expenses, etc. all on student loans. How is this possible? Isn’t the money from student loans supposed to go to classes, books, etc.? Is this even legal? I have been unemployed for 9 months and am exploring my options financially.
Monorail Track Lighting
Topics: student loans |
September 7th, 2010 at 4:48 pm
Well thats what a student loan is for….. You get two student loans, a maintenance loan : rent, books, food, travel, general life. Tuition: Pays for the course. The money is a loan you so what you want with it as a student, but once its gone, you dont get any more and you have to pay it back.
September 8th, 2010 at 3:39 pm
Depending on your financial need, subsidized federal loans/grants may be awarded that will cover at least part of your living expenses in addition to tuition, books and fees. Then there are private student loan lenders (unsubsidized) that can be used to pay towards living expenses while you are receiving your education. There’s nothing illegal about it.