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Can student loans cover off-campus housing?


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Answered 2014-08-03 02:36:31
Student Loans Covering Off-Campus HousingStudent loans are to be used for Cost of Attendance, which can include off-campus housing and living expenses. HOWEVER, your financial aid office at your school is the ultimate arbiter of what is legit. Most would agree that off-campus housing is legit. Now, I have heard tell of many things not-so-legit that student loan money gets used for. Sure, they cut you a check for the extra leftover money and how can they really know...? But be warned that if they find out you are doing something less-than-legit with loan funds, you might find yourself with your loans "decertified" and unable to get more. Not worth messing up your education to use loan funds to buy something inappropriate.

The other thing which needs to keep in mind is to take a suitable loan for you that can offer you extra benefits in terms of interest rates, pay off period etc.

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