Student loans for living expenses?

Is it true there are student loans you don't have to repay until you're out of college for living expenses? I.e. Rent, groceries, going out etc.

Which banks provide them? How do they compare with Stafford loans?

Student loans for living expenses?

Yes, student loans will cover living expenses and you wouldn't have to pay them back until six months after you graduate. They are personal loans as opposed to a federal student loan. I have both federal and private student loans and I have found that both loans offer flexibility of payment options and as far as how i have been dealt with I haven't found any difference between the two loans. The big difference that I have found is that I was able to consolidate my federal loans into one loan with a fixed APR, and my private loans could not be consolidated with my federal loans and I have a variable APR with that loan.

Federal student loans will help you with living expenses as well. I knew several people that got help from federal loans to cover rental costs while they were in college.

A couple of banks that I know offer private student loans are Keybank and M%26amp;T bank. I'm sure most banks offer these loans though so look around at banks you are familiar with.

Student loans for living expenses?

You can find out through your financial aid office which banks provide private loans in your area. You can also go to sallie mae's website and apply on line for a private loan. The terms are not as favorable, and usually repayment is earlier (can't defer for as along, if at all), higher interest rates (based on credit score), and you may need a cosigner.

Student loans for living expenses?

student loans can be used for living expenses, however, I would not recommend it. Stafford loans that be giving by a private lender or the government accrue interest. The %26quot;affordable%26quot; loans are need-based loans. Need based loan don't accrue interest once the loan has been disbursed; the government will pay the interest while your in school. The unsubsidized loan and private loans accrue interest once the loan has been disburse, which makes the loan expensive. In additional, private loans alike the unsubsidized federal loan, but can have higher interest rates.

If you need a student loan to pay for your expenses, sit down and write down all of your expenses. Then figure out what you can live without. Maybe you may want to get a part time job on campus because it is convenient. Or use the loan to cover rent only for the semester or year. Good luck on your decision.

Student loans for living expenses?

Most loan companies now pay directly to your university or college to avoid that issue. Student loans generally have lower interest rates than regular loans, so more people would want to take out student loans. Now, if your tuition was $10,000, and a loan company offered to pay $7,500, but you had already saved $5,000 on your own, it would be the equivalent of the loan offering $2,500 for you to use as you please. There are some loan companies that would be willing to pay a little more than you need, because with interest rates over the length of the payoff period, the company knows it will receive more back then it gave out.

Student loans for living expenses?

Stafford Loans can pay for living expenses and they do not have to be repaid until after your grace period ends 6 months after your graduation. SImply apply for the maximum amount of Stafford loans and use the remainder left over after your tuition is paid for living expenses. If you are in a graduate program you can apply for Grad PLUS loans as well to cover any additional expenses you might have.

Student loans for living expenses?

Well, I am not an expert, but I have taken out Stafford loans before, and these loans are calculated to include tuition, books, and some living expenses. Typically, you will find that the loan amounts will exceed the cost of the tuition and books, leaving you with left over money to use at your discretion!