Stafford Loan

[Guest AdamSanes]

What type expenses can a stafford loan(subsidized or unsubsidized) be used for? Can it be used for a computer or transportation?

Thanks,

adam

[Guest Navtastic]

Originally posted by MiragePilot:

What type expenses can a stafford loan(subsidized or unsubsidized) be used for? Can it be used for a computer or transportation?

Thanks,

adam

As long as it's a justifiable, school-related expense.

Edit: You're probably not going to be able to justify buying a car, but the gas and oil changes would fly. Don't try anything silly.

[ 18. October 2005, 15:27: Message edited by: Navtastic ]

[Guest cmdrstask]

I'm pretty sure you can use the loans for whatever you want. The schools I've seen have just written a check to the student for whatever balance was left over the tuition due.

[Guest AdamSanes]

Originally posted by Navtastic:

As long as it's a justifiable, school-related expense.

Edit: You're probably not going to be able to justify buying a car, but the gas and oil changes would fly. Don't try anything silly.

[ucf_motorcycle]

They won't ask you a thing. If they ask what you need the money for. Tell them living expenses. But remember you will have to pay it back and the more you borrow the faster the debt will grow through interest. There is also no way out of a student loan. Even filing for bankruptcy will not get you out of it. I know this because I borrowed alot of money so that I could do my pilot training. It got me my multi engine commercial and a 60,000 debt with 500 a month payment. Lucky for me I have had some financial success these past few years so it looks like I will be debt free by the time I start OTS. But I had to spend very carefully and it has been hard. Most of my friends called me cheap. But atleast I will be out of the hole. If you really need money for school then get the moeny for the tuition. Pay your rent food etc by getting a part time job like waiting tables. I went through college with no loans. I had a bright futures scholarship and a job. Then I made the semi mistake of taking a loan to go to flight school. Try to not take out a loan. Go to a state school and get a job.

[Guest rangerbob5]

Tell them that you need xxxxx dollars to live (hopefully only xxxx dollars). They will then say "okay". After the interview, several years later, you will have to deal with it.