Is it possible to go to college full time and live off of student loans?

I have been working full time and going to school, but am unable to concentrate on both of them. Due to this my grades and GPA are dropping. What I am wondering is if I could take out a student loan to carry me through the semester, which would cover my apartment rent, and expenses. I am unable to go live with any of my family members, so I have to do this all on my own.

I am just getting worn out by working my butt of at work, and then having no time to study for school.

Any advice?????

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  • 1 decade ago
    Favorite Answer

    yah sure you can I did for 2 years but I would not recomend it to anyone I took out 53000 in total for 3 years of school its going to cost me over 600 a month to pay them back and when i get threw paying they will have gotten over 111000 from me, my suggestion is to apply for scolarships like crazy then you can live off of what you will get from financial aid and if that isn't enough then take out a couple small fedral student loans the intrest on them, if you have good credit then get one credit card and use it to buy stuff just make sure you keep the money from your financial aid/loans in the bank to cover the minimum payment every month, then when you graduate and get a job make double payments and pay it off right away. thats what i am going to do when i go back to school.

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  • Anonymous
    1 decade ago

    yes, but most federal money is for cost of education only. if you want more money for living expenses, it is going to cost you in the form of higher interest rates. Think about it long and hard because you may regret the decision after you graduate.

    The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestudentloans.ph...

    Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.

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  • 1 decade ago

    It is possible to do, depending on the loan you get. Federal and private student loans are offered and the amount you receive is dependent on your situation. But beware. Paying back student loans can be very difficult if you don't have a set plan in your budget. Many people take ten to twenty years to pay theirs back and they affect your credit. Make sure beforehand you plot out how much you need so you don't overborrow and when you will be able to pay them back.

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  • eloy
    Lv 4
    3 years ago

    my niece did it for 4 years. she has a million youngster. she had a superb 2 mattress room apt, plus she bought a superb used automobile together with her s l exams. she gained the form of loans that did no longer could be paid returned. her baby care grew to become into additionally paid for.

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  • 1 decade ago

    Deppending on the type of loan and how much you need to pay for your bills, you should be able to do it.

    Check with your school's financial aid office.

    Good luck !

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  • Anonymous
    1 decade ago

    live in Pa? The Pennsylvania Army National Guard pays 100% tuition assistance plus your drill pay so it's like getting paid to go to college somewhat

    email nicks_angel_lisa@yahoo.com if you want more info

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  • 1 decade ago

    sure you can live of student loans, but you wont be able to do much

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