The other thing you need to know is that upon being accepted to college they don’t just hand you a check for the full amount of your financial aid. Generally, it is put onto your student account each semester in equal portions, and you cannot withdraw the part that is intended to cover your tuition, which is automatically applied to your tuition bill. Otherwise all kinds of people would apply for college just to get the money, withdraw it, and then never show up to school. I’m sure you have no such plan in mind (!), but it wouldn’t work if you did. The most you could get, and that only just as the semester starts, is the amount you have been awarded to cover the living expenses and supplies they have determined that you need.

That’s insane and ridiculous.

If you borrow that kind of money, you have to pay it back with interest–which means you’ll be paying it back for many many years.

You dont even know what school you’re going to go to? It doesn”t sound like you are not that serious about school yet to borrow that kind of money.

Dont do it. You will live to regret it