First I recommend in not going to Gregory’s website. His site is filled with google ads, meaning that if you click on one, he gets paid for that click. (cough…cough, opportunistic jerk, cough cough)

Now in answering your question, YES you can use student loans to pay off your car. Hence, essentially you can do anything with your loan. Although the loan originators would like you to use it on your school, but paying for your car that you use to get to school is related to “School” somewhat. 🙂

There are a lot of instutions that you can use to get private student loans. There is Bank of America, Citibank, THE and many many others. You may want to check with your undergrad on which one they have worked with the most. This is because they can streamline the process and you can start receiving your loans in the proper time.

Taking out a loan in 1 year, will not effect your loan next year, unless of course you went crazy and start overborrowing.

Hope this helps!

There is no cost to apply online, they do not track where the money goes, it is expected you will use the money for living expenses. Things like a car, computer, rent, the stuff federal money doesn’t cover.