June 25th, 2009 | 
Author: 
PK asked:
I plan on going to school full-time but need to have money to payoff my outstanding debts.
Elizabeth Wright
I plan on going to school full-time but need to have money to payoff my outstanding debts.
Elizabeth Wright
Posted in Higher Education (University +) | 
Tags: Car Loans, Credit Card, Credit Loans, Debt Credit, Personal Loans
You can pretty much do whatever you want with your student loans.
Once you get the loan money you can do whatever you want with the it, but you might want to take care of your school expenses before paying your bills. I knew a few people in school who had to rely on their student loans as income because they couldn’t work while in school full time.
I wouldn’t recommend it. Worst case scenario, you could always file bankruptcy, but you can’t file bankruptcy with student loans. You HAVE to pay them back, plus interest, if not paid on time. There’s no way around paying student loans.
maybe – if you have a job
The semester after all charges have credit balance you will be able to get whatever amount is for withdrawing credit balances.
For withdrawing credit balances.
Yes you can and in some ways if there is no other choice I recommend it. Reason being that Student Loans are at a lower interest rate than any other loan or credit card you can get. So you can save some money in the long run.
Furthermore there are two types of loans. One is subsidized and the other unsubsidized. If you qualify for the first, your interest is subsidized by the govt, so that you actually don’t have to pay interest until 6 months after you graduate or drop out of school.
If you get the latter, you do have to pay interest but at least it’s at a lower interest rate.
Federal financial aid is given for a student to meet all life expenses will going to school.
While this should not be an excuse for someone to get financial aid for anything other than school, if paying off the current debt will help you get a degree then it’s worth it.
But don’t make the mistake and get into debt again, on credit cards.
In addition if you qualify for a student loan you will also probably qualify to have your tuition fees waived if at a State college or university. Look into it.
hi there! just take your time and go through this lot, you are bound to find what helps you out!
if you get any luck please don’t forget about me, hope it helped you.