student loan for something else?

[flex123]

I graduate in may and was wondering if I could take out an additional $20,000 student loan (rates are so low on them) and use it for a down payment on a house or a car?

 

[slickdadd]

lol. no.

 

[slickdadd]

Well, I guess I should clarify. You can't get a student loan unless you are registered for classes, and the amount you get depends on how many hours you are taking and added costs and so forth. You aren't eligble unless you are enrolled in class, and if you are enrolled that has to be paid for somehow, so in less words: no.

 

[courtneybcca]

we all wish we could do that

 

[hrlydvdson1]

trust me i am still paying my shit....DONT!

 

[chewyxrage]

So, being a student and out of cash, I have the option of racking up some debt on my $5,000 credit card or getting a student loan. what shall I do?

 

[wootoom]

steroids.

 

[string_bean00]

steroids.

Good answer.

 

[wootoom]

lol. i thought so

 

[RaZor Ramon]

My last semester in college I had about $2,000 left over from my student loan check but I ended up spending in on college anyway when you look at it. It helped cover the expenses I incurred from interning in NYC without pay. The seem to encourage to take out more than you need. At leat that's the way it was back when I was in college 8 years ago.

 

[EnderJE]

lol...i knew a guy who blew his entire student loan on hash...lol

it's okay though..his dad paid for classes and books...

 

[PICK3]

You might be able to.

But then again in a few months you may have new living arrangements and a new boyfriend.

 

[bran987]

lmao



























no
















you can't.

 

[chrisoh]

i dont see why you cant. although i didn't need it, i was approved for 16k in student loans last semester from my school (my tuition was only 3k), all I had to do was press the ok button and they'd cut me a check, they dont ask where its going to, they pay your tuition and mail you the rest of the money and you just start repaying the loan with deferred interest after you graduate. I have many friends who used the money for things outside of academics.

 

[canadianhitman]

If you meet the requirements to get the loan, you can do whatever the hell you want with it once they give it to you. It's not as if they can force you to actually go to school just because you registered...you can drop all the courses no problem. Of course, they'll find out about that within a couple of months and you'll have to start making payments sooner than you thought.

 

[onebigab]

Well, I guess I should clarify. You can't get a student loan unless you are registered for classes, and the amount you get depends on how many hours you are taking and added costs and so forth. You aren't eligble unless you are enrolled in class, and if you are enrolled that has to be paid for somehow, so in less words: no.

Your other post was better.

 

[vansmack2000]

i dont see why you cant. although i didn't need it, i was approved for 16k in student loans last semester from my school (my tuition was only 3k), all I had to do was press the ok button and they'd cut me a check, they dont ask where its going to, they pay your tuition and mail you the rest of the money and you just start repaying the loan with deferred interest after you graduate. I have many friends who used the money for things outside of academics.

well when i got my loan for my house i had to document where all the money came from for the 20% downpayment. They dont accept $$ that is loaned.