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I'm planning on staying off campus and I want to know if my private loan willl cover my apartment rent?

I am going to college but I'm living off campus, is there any way that I can pay for the rent using my private loan?

Public Comments

1. Yes, it's a private loan so the money is yours to use as you wish as long as it is concerning living and school expenses while in college. Just remember that your private loan may go through your university before being disbursed to you. Your university has the right to specify how much money they believe you need according to your information provided in your FAFSA. Bottom line...don't ask for money that you don't really need because if it's an outrageous amout, your university will decline and lower that amount. Also keep in mind when your university disburses excess funds so that you pay your that first month of rent on time!
2. Your private educational loan has to pay your institutional charges first (tuition and fees). Then, if there is any left over, the school will refund those funds to you to use for other educational costs, including living expenses.