RE: Student loans for living expenses?
Most loan companies now pay directly to your university or college to avoid that issue. Student loans generally have lower interest rates than regular loans, so more people would want to take out student loans. Now, if your tuition was $10,000, and a loan company offered to pay $7,500, but you had already saved $5,000 on your own, it would be the equivalent of the loan offering $2,500 for you to use as you please. There are some loan companies that would be willing to pay a little more than you need, because with interest rates over the length of the payoff period, the company knows it will receive more back then it gave out.