Anyone know anything about student loans?

[fluttervale]

You can't use your student loans for a down payment on a house, but you CAN use your student loans to pay your living expenses (room & board) while saving the money you earn at a job for a down payment on a house.

You will have difficulty getting a mortgage if you do not have a true source of income.

What you may use the loan for is also dependent on what type of loan it is, I assume you mean a Stafford loan.

I am also borrowing to go back to school and to pay my living expenses so I can stop dumping money in the rental money pit. However, I have a full time position with full benefits, and grants only cover about 1/6 of my tuition. Truthfully I am borrowing what I am, not only for that purpose, but so that if I cannot handle both I can cut back work instead of school. I need to finish my degree so I can create a sustainable future for myself, and I can't do that if I am focusing on getting by paycheck to paycheck.

Coincidentally I paid back previous student loans in full, with interest.

 

[Back to Nature]

You can't use your student loans for a down payment on a house, but you CAN use your student loans to pay your living expenses (room & board) while saving the money you earn at a job for a down payment on a house.

You will have difficulty getting a mortgage if you do not have a true source of income.

What you may use the loan for is also dependent on what type of loan it is, I assume you mean a Stafford loan.

I am also borrowing to go back to school and to pay my living expenses so I can stop dumping money in the rental money pit. However, I have a full time position with full benefits, and grants only cover about 1/6 of my tuition. Truthfully I am borrowing what I am, not only for that purpose, but so that if I cannot handle both I can cut back work instead of school. I need to finish my degree so I can create a sustainable future for myself, and I can't do that if I am focusing on getting by paycheck to paycheck.

Coincidentally I paid back previous student loans in full, with interest.

I decided to just stay where I am, build credit, and save money. I'll move when my fiance and I get married. (2-3 years)