can i take out a student loan for living expenses

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People also ask

  • Are student loans for living expenses a good idea?

  • 3: Are Using Student Loans for Living Expenses a Good Idea? Yes, it is possible to use student loans for living expenses in college, under certain circumstances. When you sign your master promissory note for student loans, you are able to borrow based on the cost of attendance of the school, which includes many living expenses.

  • What can I use student loans for other than tuition?

  • Student Loans. Many college students need help paying for housing and living expenses. Fortunately, both federal and private student loans can be used for things other than tuition and fees, like on- or off-campus room and board, personal supplies, groceries, and more.

  • Can you use student loan money for housing?

  • It鈥檚 actually really easy to use student loan money for housing and other living expenses. Just be sure to spend the money on only the things that are absolutely necessary.

  • What expenses do college students need to cover with student loans?

  • Here are the typical expenses college students need to cover that you can pay for with student loans: 1. Tuition and fees According to, for the 2020-21 academic year, the average price of tuition and fees is:

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