luciazephyr | (no subject)

(no subject)

Mum has a question for you US college students. If she takes out a student loan, can she use it on bills and stuff, or are there restrictions on the sort of thing you can use the money for?

Oh yeah, this morning we went to the college and got the majority of our admissions stuff done. 83

Also I bought the Arctic Monkeys' Whatever People Say I Am, That's What I'm Not. And I'm gonna watch Psych tonight and then play Persona 4.

Good day overall.

-Lucy

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When I was in school, which was a couple (10 ow,ow,ow)years ago, you could only take out a certain amount. The money then went directly to the school. The school would then cut you a check for what ever was left over. You could do with that what you wanted. So for example if tuition was 2000, the loan was for 1000, a check would be cut to you for the remaining 1000.

Yes, that. *points up* Like, I get $2200 twice a semester, and there is typically $870 left over each time after tuition is paid. I've used it on bills and to pay my husband's tuition.

This isn't even going to matter to you guys for years yet, but technically you can't get a student loan interest deduction on your income taxes if you used any of the loan money for random other stuff (tuition, fees, books and room & board is all good). THOUGH I DON'T GET HOW THEY WOULD EVEN KNOW.

Edited 2010-03-11 02:20 (UTC)

I am afraid that I have no idea about the student loan question, but I put forth a question to you about Psych:

Did you think the end was underwhelming? Was that just me?

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