RE: Student loans for living expenses?

Is it true there are student loans you don’t have to repay until you’re out of college for living expenses? I.e. Rent, groceries, going out etc.

Which banks provide them? How do they compare with Stafford loans?

alex Silver Asked on September 10, 2020 in Business & Finance.
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Yes, student loans will cover living expenses and you wouldn’t have to pay them back until six months after you graduate. They are personal loans as opposed to a federal student loan. I have both federal and private student loans and I have found that both loans offer flexibility of payment options and as far as how i have been dealt with I haven’t found any difference between the two loans. The big difference that I have found is that I was able to consolidate my federal loans into one loan with a fixed APR, and my private loans could not be consolidated with my federal loans and I have a variable APR with that loan.

Federal student loans will help you with living expenses as well. I knew several people that got help from federal loans to cover rental costs while they were in college.

A couple of banks that I know offer private student loans are Keybank and M&T bank. I’m sure most banks offer these loans though so look around at banks you are familiar with.

Star Answered on September 10, 2020.
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