Yes fin aid can pay for rent and bills, it is no different than financial aid paying for a dorm room and associated costs. One is on campus and one is off.
Your financial aid can pay for anything you want to pay with it.
It's very common for students to borrow more money than is needed for tuition, books and other school expenses. They can use the excess for whatever they want, most commonly for rent and other expenses.
It depends on the income of your parents. My mom doesn't have a large income so I basically got about 10,000 in financial aid. I got a 2,000 loan and the expected contribution from my parents is only 2,000. I live on campus too...
Consolidating your loans can also improve your chances of being approved for a mortgage or car loan. Lowering your monthly student loan payments means that less of your monthly income will go toward paying debt, reducing your “debt-to-income ratio.” Your debt-to-income ratio (the lower, the better) is one of the factors a mortgage or car loan lender will look at in determining how much you can borrow.
There are no fees, no credit checks and no employment verifications to apply for a federal consolidation loan. In fact, the government prohibits federal consolidation lenders from charging fees.
The application process can be completed in a matter of minutes online or over the phone. All that is required is a short federal application, basically containing some personal information, contact information for 2 personal references and information on your current student loans, which your lender can fill in for you. Virtually everyone with federal student loans qualifies for a federal consolidation loan – as long as they have over $7,500 in federal loans and aren't in default on those loans.
So much depends on the amount of your annual tuition and you and your parents' financial status (ability to contribute).
Have you filled out the fafsa.gov website? You will need some information from your parents about their income and it will probably take you an hour to do the first time but it's free and you HAVE to do it get financial aid at most if not all schools. I get financial aid and I can use it for any school related expense. This has included my rent, car insurance, health insurance, food, takeout food, clothes, utilities (including cell phone), new laptop after my computer crashed, and it does NOT include vacations and vet bills!
Try looking into work-study programs at schools since you won't pay tax on the money under a certain dollar amount. I tutor at my school, have gotten three raises in over a year, and have met and helped lots of students.
Yes... check with the Financial Aid office at the college you are attending or plan to attend. They are the ones who decide how much money you will be allowed to borrow. This is assuming that you have applied for the FAFSA, the Stafford Loan, the Perkins Loan (IF your school has it), and the SELF loan which requires a co-signer.
After approval by the school for the loans, any excess that is above your actual school costs for attending school, the school gives to the student. With some loans there is a percentage of the loan that a student may spend for rental on an apartment or living quarters of some kind.
IF the school has NO CAMPUS housing, then all excess monies are given to the student to use at their discretion.
I am a FT student with three children ... when on earth would I work in time for a job?? LOL That's where subsidized and unsubsidized loans often go .. to help cover living expenses while in school. Actually on my school's website, my financial aid status page shows my estimated yearly expenses, which includes not only tuition and books, but housing and travel expenses. (And they figure rather reasonable amounts for those categories.) I am married, so luckily my husband covers the bills, but if it weren't for those loans to help subsidize our living expenses it might be pretty rough for the next three years!
Just keep in mind that you WILL have to pay back those loans, so be sure you spend that money on something that you won't regret later. Rent and utlities have to be paid, so I would not feel bad about it.
heres what i do: my scholarship, federal subsidized loans, grants, and state loans are about $1,500 per semester more than what my tuition is, so I request my refund from the school, they mail me a check, and I have money for rent/utils/etc. I also have a part time job with the school (aka workstudy) that I do for 10 hours per week at $7.85 per hour, which gives me enough money to buy food and gas. when I get low on funds, I go out and get a temporary second job, something easy that pays reasonably well just to make rent.
so the short of it is, yes I have a job while doing full time classes because my parents don't give me any support at all. however I do also use my govt. financial aid to get by.
oh and this is for in-state tuition (about 3500 per semester)
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