Is it possible to get student loans for an apartment off-campus?

[DainBramaged]

Here's the deal, friend is really getting behind working 30 hrs + 18 hour credit load. She's getting close to having to start putting stuff onto credit cards and she doesn't want that.

For this year she has a $5,000 grant, $10,000 unsubsidized loan, and $5,000 subsidized loan.

That is barely going to cover tuition. What does she need to do to get money for living costs?

 

[spaceman]

the short answer is yes.
but i would advise her to borrow as little as possible.
ive been paying student loans like its a fvkcing religion for almost 8 years now.

 

[DainBramaged]

Originally posted by: ncircle
the short answer is yes.
but i would advise her to borrow as little as possible.
ive been paying student loans like its a fvkcing religion for almost 8 years now.

It's that, or put the rent on a credit card. And that is going to only last a year tops.

 

[Gibson486]

Just find a loan that gives you the money and not the school.

Try the Tuition Answer by Sallie Mae. The interest is pretty high though.

 

[DainBramaged]

Originally posted by: Gibson486
Just find a loan that gives you the money and not the school.

Try the Tuition Answer by Sallie Mae. The interest is pretty high though.

Is this what most people use when they get money for living expenses?

 

[tfinch2]

She should go to a cheaper school.

 

[Gibson486]

Originally posted by: DainBramaged

Originally posted by: Gibson486
Just find a loan that gives you the money and not the school.

Try the Tuition Answer by Sallie Mae. The interest is pretty high though.

Is this what most people use when they get money for living expenses?

Its what lots of people do. It's not the best idea in the world, but it sure is the easiest (and most expensive) way out of it.

 

[DainBramaged]

Originally posted by: Gibson486

Originally posted by: DainBramaged

Originally posted by: Gibson486
Just find a loan that gives you the money and not the school.

Try the Tuition Answer by Sallie Mae. The interest is pretty high though.

Is this what most people use when they get money for living expenses?

Its what lots of people do. It's not the best idea in the world, but it sure is the easiest (and most expensive) way out of it.

What would the best idea in her situation be?

 

[SonnyDaze]

Originally posted by: DainBramaged
Here's the deal, friend is really getting behind working 30 hrs + 18 hour credit load. She's getting close to having to start putting stuff onto credit cards and she doesn't want that.

For this year she has a $5,000 grant, $10,000 unsubsidized loan, and $5,000 subsidized loan.

That is barely going to cover tuition. What does she need to do to get money for living costs?

:music:Bow Chicka Bow Wow:music:

 

[SmoochyTX]

NM

I asked a stupid question already answered...LOL

 

[Jeff7]

Originally posted by: tfinch2
She should go to a cheaper school.

That's what I was thinking too, but then I thought, is that for the semester or for the whole year?
My per-semester bill was a little under $8500 for tuition and the crazily expensive on-campus apartments. On campus apartments are 2-bedroom, 4 occupant dealies, and each person pays over $500/month. So this is a 2 bedroom apartment, for which the college gets over $2000 per month. Some prices for off campus apartments in the area:
- 2 bedroom, utilities included, carpeted, furnished - $580
- 1 bedroom, furnished, no lease - $400
- Unfurnished 1 bedroom apartments can go for a little less than $300
Only things keeping me on campus:
Convenience. I have to drive once a week for groceries. This is also good in winter, because it snows a LOT.
The money issue - I also don't know if grants and student loans cover anything else. I have a feeling they might, because I got a refund this past semester because my grants and subsidized loans covered my tuition and housing expenses.

Credit cards sound like a bad idea. The interest on those things is as close as you can get to legal loan shark(ing?).


Best idea: have her ask someone at either financial aid or the bursar's office at the college.

 

[DainBramaged]

Originally posted by: Jeff7

Originally posted by: tfinch2
She should go to a cheaper school.

That's what I was thinking too, but then I thought, is that for the semester or for the whole year?
My per-semester bill was a little under $8500 for tuition and the crazily expensive on-campus apartments. On campus apartments are 2-bedroom, 4 occupant dealies, and each person pays over $500/month. So this is a 2 bedroom apartment, for which the college gets over $2000 per month. Some prices for off campus apartments in the area:
- 2 bedroom, utilities included, carpeted, furnished - $580
- 1 bedroom, furnished, no lease - $400
- Unfurnished 1 bedroom apartments can go for a little less than $300
Only things keeping me on campus:
Convenience. I have to drive once a week for groceries. This is also good in winter, because it snows a LOT.
The money issue - I also don't know if grants and student loans cover anything else. I have a feeling they might, because I got a refund this past semester because my grants and subsidized loans covered my tuition and housing expenses.

Credit cards sound like a bad idea. The interest on those things is as close as you can get to legal loan shark(ing?).


Best idea: have her ask someone at either financial aid or the bursar's office at the college.

Sorry that I didn't mention it, but this is $20K per year.