It depends on your school. Legally, the funds you receive are only supposed to be used for school. The school I attend actually gives us a refund check for the full amount for that term after classes are paid for. You have to register and actually be in classes. The check is a refund of the difference after tuition and books. Be careful because you don’t want to get into huge debt later on by doing this. Interest stacks up and if you aren’t in classes, you immediately ave to repay the loan or it will mess your credit up.

Dear Growing Annoyed,

Student loans r just that. If u meet the fin. criteria for the student loan, a student and all your school tuition and fees r paid, any excess fin. aid is usually dispersed 2 the student for living expenses.

I strongly caution u though, loans have 2 be repaid… and if Ur not careful. U’ll be so in debt that it will be a rough 10+ yrs of repaying. It’s tough when u can’t live within Ur means. Ask Ur self whether u really have to have the $ or can u earn the difference and get by. Robbing Peter to Pay Paul is a vicious circle of debt… chose wisely. Can’t parents, family help u instead? good luck

In order to get a student loan, you have to fill out a FAFSA and have it sent to the school that you are going to attend. They will send you a financial aid award letter to let you know how much you are eligible for. There is no legitimate student loan that you can get without this process. Once you have enrolled in classes and the amount of your tuition has been determined, your financial aid money (student loans or grants) is sent directly to the school and pays for your tuition and fees first. If there is any money left over, you will receive it. This is the process, and its pretty hard to cheat. Student loans have low credit requirements in order to help people get an education. They are NOT meant to be used as a substitute loan for other expenses.

No. If you’re not a student you can’t get a student loan and why should you? Maybe try a Credit Union, but you have to show you can save first.

What do you need the loan for and how will you pay it back? You haven’t really given enough info to answer the question properly. If you are in the UK talk to Citizens Advice Bureau who will always give free, impartial advice about financial problems.

You have to be enrolled in school to get an educational loan of any sort. If you borrow more than you need for your educational expenses the rest is used for living expenses.

Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad creditdepending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.