Can student loans cover off-campus housing?

Student Loans Covering Off-Campus Housing

Yes, you can use your student loans for anything you want related to college. Grants have to be used for tuition or books, but loans can be used for anything. I used mine to pay off credit cards I had used to pay for school the previous year.

Here are more opinions and answers from other FAQ Farmers:

• I have been told numerous times that whatever is left over from a grant and/or loan after it has been applied to your tuition is yours to spend as you see fit. They have no way of knowing what you spend it on.

• Yes, but...student loans are to be used for Cost of Attendance, which can include off-campus housing and living expenses. HOWEVER, your financial aid office at your school is the ultimate arbiter of what is legit. Most would agree that off-campus housing is legit. Now, I have heard tell of many things not-so-legit that student loan money gets used for. Sure, they cut you a check for the extra leftover money and how can they really know...? But be warned that if they find out you are doing something less-than-legit with loan funds, you might find yourself with your loans "decertified" and unable to get more. Not worth messing up your education to use loan funds to buy something inappropriate.
  
  
• Off campus housing loans to cover all your expenses and whether your loan covers your off campus housing loans or not?
  

The other thing which needs to keep in mind is to take a suitable loan for you that can offer you extra benefits in terms of interest rates, pay off period etc.

Yes, the section of living costs is to pay for wherever you live, regardless of whether it is oncampus or across city.

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First answer by ID1132839965. Last edit by Sdresh. Contributor trust: 874 [recommend contributor]. Question popularity: 278 [recommend question]