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Can your college loans be used to purchase a car?

Updated: 8/16/2019
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8y ago

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After all your school expenses are paid, your student funds are given to you to cover what you need to get by during the school year. Rarely enough to cover rent, food, etc,. but if you can find a cheap beater to buy, no one's going to question where you got your money.

Several years ago, loan promissory notes used to have language that said you weren't allowed to use the money to buy cars, but it's gone now.

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