You can also use student loans for living expenses.
You’re limited to borrowing the school’s cost of attendance — that’s tuition and fees, books and supplies, room and board, transportation, and personal expenses —minus any aid you receive.
Can you use student loans to pay bills?
The short answer is yes. The U.S. Department of Education lets you use your student loans for housing and living expenses while you’re in school. Private student loan lenders typically impose similar requirements, as well. But it’s OK to use your loans to pay for more than just your college tuition.29 May 2019
Do student loans pay for housing?
Student loans will cover the cost of on-campus housing (otherwise known as a dorm room) and meal plans. Commuter students, or those who live off campus, may have a portion of their living expenses covered through student loans, as well. This may include rent, utilities and food expenses.
What can you use federal student loans for?
Here are five things you can use your student loans to pay for:
- Tuition and Fees. Generally your largest education-related expense, tuition and fees cover the basic costs of enrollment at your school.
- Housing Expenses.
- Textbooks and Supplies.
- Spring Break.
- Eating Out.
- Dorm Room Accessories.
7 Apr 2017
Can I use student loans to pay credit card?
Lenders servicing federal student loans cannot accept credit card payments due to U.S. Department of the Treasury regulations. However, you can still make payments on your account with a credit card if you use an intermediary or if you are late on your payments.