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It depends on the lender. Most state loan offices allow money to be used for school purposes which includes books and laptops, even a car if you need for transportation. However, I went to technical college and there was no overage they sent all excess back to the lender. While universities follow the overage check policy. Sometimes loan departments do check-up on students who have to prove what they bought with the loan money. SO KEEP YOUR RECEIPTS! If can't prove it you have 30 days to pay back the loan in full >.<
Wiki User
∙ 15y ago
Wiki User
∙ 8y agoAccording to the US Federal Government, loans guaranteed by the government (such as Stafford loans) may be used "only to pay for education expenses at the school that awarded your loan. Education expenses include school charges such as tuition; room and board; fees; books; supplies; equipment; dependent childcare expenses; transportation; and rental or purchase of a personal computer." Both books and a computer are specifically mentioned as things that you CAN use the loan to pay for.
For private loans that are not guaranteed by the government, the lender sets the rules, but it would be extremely surprising if they didn't allow you to use them at least to pay for books, and only a little less surprising if they wouldn't let you get a computer.
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What may student loans be used to pay?
In the US, you can pay tuition, books, supplies, and housing costs. When the school receives your student loan, they will deduct your tuition cost from it and give you a check for the remainder.
If a school closes do student loans get cancelled?
If the school closed and there were unused student loans, they would be cancelled. That would probably be an unusual circumstance since they probably would know in advance that they were closing.Any outstanding loans that were used would not be cancelled.
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.
Can student credit cards be used to repay loans?
Whether or not a you can repay loans with a credit card depnds on the policies of you debtors. You can pay some student loans with a credit card, if you are in default. However private lenders are under no obligation to accept credit card payments.
Do amounts owed to a business that are on a credit basis are considered a current asset on the books be used to obtain loans?
yes
What all expenses can stafford loans be used for?
Stafford loans are fixed rate federal student loans that are guaranteed by the government. They can be used to pay for tuition, housing, books and more. Amount awarded is based on dependency status.
Can student loans be used for breast implants?
No ... student loans are targeted specifically for education and nothing else.
Can student travel be paid for with student loans?
Generally, student loan money can only be used for COA (cost of attendance) related expenses, including housing. These expenses include things like tuition, books, room & board. If the travel is not directly related to your schooling, then student loan money cannot be used for travel expenses. There's some good information on student loans here http://www.financialaidfinder.com/financial-aid/seeking-financial-aid/student-loans/
What may student loans be used to pay?
In the US, you can pay tuition, books, supplies, and housing costs. When the school receives your student loan, they will deduct your tuition cost from it and give you a check for the remainder.
What can student loans be used for?
Student loans can be used for tuition, books, fees, food, housing and expenses while in an accredited or approved educational program. It is a loan, so it does have to be paid back. It would be pointless to spend money on luxury items and consumer goods. A stereo is not a required item, while a computer may be.
In what ways would loans be beneficial to a college student?
Loans can be beneficial to a college student to help ease the burden of the costs of post-secondary education. They can be used to help pay for living expenses, class fees, and books. They do need to be paid back in the end, though, and can cause some large debts.
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.
If a school closes do student loans get cancelled?
If the school closed and there were unused student loans, they would be cancelled. That would probably be an unusual circumstance since they probably would know in advance that they were closing.Any outstanding loans that were used would not be cancelled.
Can student loans be used for cosmetology school?
Yes, Student loans can be used for cosmetology schools. Pell grants are available but you must go to an acredited school. Enid Beauty College Enid, Oklahoma 580-237-6677
How do I apply for private student loans?
www.finaid.org offers good information about student loans. Here you will find links to different loan comparison sites and information about different options of governmental loans, as private loans should only be chosen if all governmental options are already used.
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.
What are alternative student loans?
Alternative student loans are federally guaranteed student loan programs used to help college students pay for their education. The program allows students to borrow money with interest and subsidized loans allow them to defer payment until they are no longer in school. http://en.wikipedia.org/wiki/Student_loan
