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You must use the money according to the terms of the loan. That is to say, if the loan specifies it is only for tuition - you must have tuition costs of at least that amount. If it is for tuition and fees, and books and other expenses with attaining the education, it can be applied to any of them.
However, cash is fungible. That means the exact money you receive doesn't have to go to that expense. You can use the money from another source - earnings, other savings, etc., and don't have to keep these funds separated from others and used specifically for the expense.
Wiki User
∙ 12y ago
Wiki User
∙ 14y agoStudent loans can be used for whatever you put them towards. Though I believe there is a cap on how much you can get each year. You also need to demonstrate financial need to qualify. Then once you are finished school you must begin paying them back and the interest starts to kick in.
Wiki User
∙ 19y agoYes, or for school supplies which includes computer stuff.
Wiki User
∙ 12y agoi think you can use it for school tution or something
hope i helped = )
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Can student loans be used for breast implants?
No ... student loans are targeted specifically for education and nothing else.
Can student loans be used for things such as an apartment or a car if it is necessary to complete the education?
Your student loans are yours. You have to repay them later, so you do what you want to with them now. Yes, they are supposed to be for help in your education, but I am raising two kids and going to school only with my student loans. The only demand by the lenders is to payoff your loans on time, otherwise you can do anything with your loan as you want.
Know How to Spend Low Interest Student Loans?
Some students assume they can use their low interest student loans to buy anything and everything. The truth is there are strict guidelines over how a student can use his or her low interest student loans. A student should be sure that he or she is only spending the money on living expenses and school expenses.
If you have outstanding student loans and die is the estate charged for the student loans?
Actually, that's not true - student loans are forgiven when the student dies.
What are the different types of loans I can get for anything?
You can get a car loan, student loans, mortgages, etc. You can also get a personal loan from a bank if you have good credit.
Are student loans forgiven after age 60?
Are student loans forgiven at age 60? Are student loans forgiven at age 60?
What company provides direct student loans?
There are only a few companies that provide direct student loans. You can go to a bank and get student loans from there, or you can get Federal Loans from your school.
Should I apply for student loans?
If you have the money to pay for school do it. Taking out loans is a good option if you are in need of money, but anything that is taken out does have to be played back.
What are the differences between direct and indirect student loans?
The difference between direct and indirect student loans are direct loans come to you in your name to deposit and use for school. Indirect loans go stright to the school and are used just for tuition.
Can private student loans be consolidated with federal student loans?
Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.
What kind of agency is The Student Loan People?
The Student Loan People is an agency that specializes in student loans. They are located in Kentucky. They work with people getting student loans, collections and repayments of student loans.
Are all student loans federal loans?
No, private lending institutions (such as banks) also give out student loans.
