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Is it possible? Yes.
Is it legal or within the terms of your loan? No.
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∙ 15y ago
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What can you use your student loan for?
pay for collage
How long does it take to pay back student loans?
Loan Calculators You can use this student loan payoff calculator to estimate how long it will take to pay off your student loans. Use this tool to determine how quickly you'll pay off your student loans. By making a higher monthly payment, you can shorten the length of your loan.
Can you use your Stafford student loan to pay off debt?
No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.
What if federal student loan money is partially used for bills?
They send you the money, you use the money. Don't have to account for use.
Should I use student loan to pay for a new car loan?
As a general rule, it's a bad idea to use a student loan for anything other than educational expenses, and many lenders exclude car payments as a valid expense.
What is meant when bankers and investors use the words student loan consolidation interest rate?
When bankers and investors use the term "student loan consolidation interest rate," they are referring to the interest rate that borrowers will be charged when they consolidate their student loans. Student loan consolidation allows borrowers to combine multiple loans into a single loan with a new interest rate, typically based on the weighted average of the interest rates of the loans being consolidated.
Can student loans or grants help pay bills other than school expenses?
Yes, federal loans can be used for bills but they have to be school related, such as upkeep and gas for your car to get you to and from school, also things such as food and rent are acceptable while you are in school. Ask your financial advisor through your school, or contact the company that holds your loan. They will be able to provide you with everything that is acceptable to use the loan money for.
Can the cosigner of a student loan be removed from the loan if the student did not use the loan for its intended purpose And the student did not finish college and is not paying the loans?
NO you have s secondary obligation for the note, not the money or how it was or was not used.
For what items can checks be used on Amazon?
There are a range of products that you can buy with checks from the Amazon website. You can use them to make loan repayments or even to pay other bills that you have.
Is it true when consumers build up a lot of debt they may choose to apply for a bill consolidation loan that they can use to pay off their other bills?
True
What can the funds from my federal student loan be used for?
Generally speaking, yes, your student loan can be used for other items such as a computer. Some people even abuse student loans and use them on all kinds of non-school related things. Just remember you have to pay it back no matter what you use it for. http://studentaid.ed.gov/students/publications/repaying_loans/2009-2010/receive.htm
Can you use student loan money as a down payment on a house rather than use it to pay rent?
Using those funds on your new home will knock you into a different tax bracket and may jeopardize your chances of getting future loans. Remember, part of the student loan process is providing your tax returns.
