Fed Financial

Do Federal student loans cover room/board? If not, what are some loans that do cover this?

Yeah, I got a Federal Direct Subsidized loan this year, but I'm only going to a regional campus. If I got the same next year, does it or any other student loan or federal grant I get pay for room/board? If not, what loans do pay for room/board that I could get easily?(without much credit history and my mom doesnt really have much credit)... Well, I do have a job. I've been working at this one place since the end of July, and don't see myself leaving there anytime soon. I also had a couple jobs that didn't last that long before this job that has lasted awhile.

Public Comments

1. get a job, starting out in terrible debt is not a good plan. You can use your loan for books and tuition and supplies, live on campus for cheap, or find a house to share. You have to work to pay for food and rent and learning about the real world
2. on the financial aid app (for grants and student loans), they ask you whether you are living on or off campus. That is a factor in how much you are awarded. When you apply again in the spring, put that you will be living on campus and see what happens
3. You ought to consider changing the section on your FAFSA form that asks where you will be living next year from "at home with my family" to "on campus student housing" or "off campus apartment or room". If they feel inclined to allow you extra money to borrow to pay for it, go ahead and take it if you must. But I would seriously consider holding my debt load down by either remaining at home or taking a part time job. These loans take years to pay off, so it makes sense to be frugal.
4. When I was in school my loans and grants paid for my room and board. It really depends how much money you qualify to get. If it is enough than take it, if not than you can always find some places online to apply to although they might have higher interest rates.