How to Use School Loans for Bills

College is the first time many young people live on their own. College students may worry about how they are going to be able to afford to pay all their bills while pursuing their education, but there's a solution. Student loans are available to almost all college students, and, although used primarily for tuition costs, these loans can also be used to pay other bills.

Instructions

    • 1

      Complete a Free Application for Federal Student Aid. You may find that you are eligible for student loans through the federal government, which offers better interest rates than private lenders. You will want to get the lowest interest rates possible so you can afford to pay your bills after college, when you won't have student loans to pay them with.

    • 2

      Accept all grants and scholarships that you are eligible for, as well as all federal student loans. You will be able to receive only the amount that your college says is necessary for covering tuition and other expenses. All grants, scholarships and loans will first go toward tuition, but the leftover amount will be placed into your personal bank account.

    • 3

      Try to avoid taking out private student loans to pay your bills. Remember that you have to pay back the loans as soon as you are finished with school, or sometimes right away, so if you don't have to take out loans, don't.

    • 4

      Use any money reimbursed to your account to pay bills so you don't have to worry about finding a job while in school. Make sure you keep receipts of all bills you pay with your student loans.

Learnify Hub © www.0685.com All Rights Reserved