College loan question

[faulkton 5,000+ posts]

I'm super poor on paper, so i get a lot of money.

My net income is like $4-5K a year.

loL.

 

[traksta15 10+ year member]

I got my loan through stafford, they just give the money to my school. My gf got a check with her loan, so who knows?

Whether or not you pay the interest while in school or after you graduate/stop going to school depends on whether or not the loan is subsidized or unsubsidized.

 

[bdawson72 5,000+ posts]

I'm super poor on paper, so i get a lot of money.
My net income is like $4-5K a year.

loL.

x2.

My income yearly is only around 7k

 

[solidcrowd 10+ year member]

lol and why is that faulkton

 

[faulkton 5,000+ posts]

lol and why is that faulkton

Because i like it that way.

 

[solidcrowd 10+ year member]

Because i like it that way.

I was talking about when you said i'd be better off gambling with my student loan lol, I have dial up lag.

 

[faulkton 5,000+ posts]

oh i don't know.

 

[tRidiot 10+ year member]

you're an idiot if you buy a car with student loan money

Sounds more like you're talking about yourself, to me.

I know a few that have. Need some transportation during school... I don't get what everybody has against it..

There's nothing wrong with it.

I'm poor. I better qualify.

Everyone who is a US citizen or PR with no felony history qualifies for both subsidized and unsubsidized Federal Stafford student loans. You must be enrolled at least half-time in a US DOE-accredited school. It is not need-based, meaning your income level (or parents' income, if you're less than 24) matters not a whit. The checks go to the school, they take out their cut for tuition and expenses, and give you the rest. If you owe them nothing, they'll usually sign the check over to you.

You can use your student loans to buy a car, pay rent, bills, etc. Buying a computer is a slightly trickier prospect, since it's not a requirement for most majors, but if your school requires that every student purchase a laptop through them as part of their school necessities, it is ok.

However, I can almost guarantee you that no one is ever going to come in and ask you what you spent your federal student loan money on.

As a recipient of over $600,000 in Federal and private student loans, I've got a good bit of knowledge on the subject. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

Anyone with questions, PM me if you like.

 

[Tiger Bass 5,000+ posts]

READ YOUR FUCKING LOAN INFORMATION!!!

According to my loan, I legally have the right to buy a car with my extra loan money as the car would be used for transportation purposes, which is covered under my loan.

 

[crunktimes.com 5,000+ posts]

Buying that Tempo sounds practical, not what I was expecting here.