Quote:
Originally posted by Discotish
"When your school determined your federal financial aid award, it used a standard budget to estimate the expenses you would incur while attending school. This expense estimate is referred to as your cost of attendance (COA). If you can reduce your expenses to an amount less than the school's estimated COA, you might not need to borrow as much as the school has awarded" If you're so interested, take it up with your schools Financial Aid department. I'm sure they'd be happy to explain it to you....
What you are just failing to see is that you are taking money you don't need. Student loans are not low interest loans intended to finance your car loan.
I was trying to make a point and obviously, my opinion is in the definite minority. So I'll just leave this hot topic be...
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It is money I need, the school thought I "needed" it. How do you know what I do and do not need? I could have paid for my car over 15 years working at the mall, or paid that money towards my tuiton and used my student loan for the car payment and gotten it paid off quicker. If the federal govt was actually concerned about this, they wouldn't allow such enourmous refund checks to be issued to people.