How can i use school loans for an apartment?
Jul 19, 2009
in
Commercial Mortgage FAQ
I was living on off campus housing in an apartment complex using school loans and now i have to move further away. When i moved into this apartment building which was off campus, the school handled the finances for the apartment, its basically an apartment for only college students. Now i am moving into a normal apartment building and am not sure how i can use school loans for this, do u get an account number or like a credit card with your school loan account to do this?? thanks
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2 comments
Suddenly Human on July 19, 2009 at 8:52 pm
After your tuition and fees are paid through your financial aid, the school will either direct deposit the left over amount into your bank account or issue you a check. You can do with whatever you want with this extra money… pay rent, utilities, gasoline, etc.
I did this when I was in grad school. Be aware this will take a little planning and a little cash up front, but it is possible. Most schools do not issue you your extra money until a few weeks into the semester, so you’ll have to have money up front. I had a job well before school started and also had money saved to pay for utility deposits and the deposit on the apartment.
Hope it helps.
Titi on July 19, 2009 at 8:52 pm
well, for personal experience for the loans they give you a certain amount for what you will get per semester. if the loan exceeds what your semester attending school costs you will get a refund check mailed to you. usually with that check you can use in whatever way you please, i personally used it to pay for rent.
hope this helps.