Question on transferring student loan to another school?
If I transfer my student loans to a cheaper community college in the same city. Can I used the remaining balance on personal needs like, food, bills ,etc
You wont be able to transfer the same loan, you will need to indicate the new school online with your fafsa (the old one from last year) and the new school will re-evaluate your situation and give you a new one. You will still have to pay the old one (but not for the spring term that you would have received). Most likely, it will be less and thus you will not get any extra money due to tuition being cheaper. If you do, then yes you can use that money for whatever you wish.
