Answers:
Depending on how the loan is given to you, it may be restricted only to certain things like tuition and fees. However, financial aid can usually be used towards anything school related such as supplies, rent, books, food, etc. You'll need to read the provisions of the loan to find out more. Your financial aid counselor can better answer specific questions about the loans they offer.
Keep in mind that it's a loan. And a loan is a loan is a loan. That means it needs to be paid back once you graduate.
However, if you're given a grant, that's free money. There might be stipulation of how that money can be spent, so you would need to read the provisions associated with that money.
Having said all that. I've known students to spend financial aid on expensive clothing, gas, partying, kegs, cigarettes and other things where it definitely shouldn't have been used. But, that's their credit history, not mine. Then, these same students end up running back to the financial aid office in need of an emergency loan because they've run out of money a little over halfway through the semester. Don't fall into that trap. Emergency student loans are exceedingly expensive (interest rate wise).
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