Are there loans that mainly cover student housing?
I have all my school stuff covered but I can’t afford to pay for my student housing. I’ve looked at loans from banks and sallie mae but they are all based on paying for fees with classes/books/supplies. I’m kind of freaking out because school is approaching and I have no idea where i’m going to live. please help!
“financial aid’ is a broad term that is used to cover ALL college related costs including tuition, fees, room and board, books and even misc costs like travel and personal items. Even the cost of a computer. Student loans are financial aid and these items can be included in the amount you borrow. So, you CAN use loan money to pay for student housing and the meal plans as long as you don’t need more than the federal annual maximum loan amounts.
If you have not done so already you need to fill out the fafsa application at http://fafsa.ed.gov This is the starting point for all form of federal student loans. The most common student loan is called the stafford loan. If you are unwilling to borrow you can ask your parents to borrow with what is called the parent PLUS loan.
