Can I Use A Student Loan from Community College to pay for off-campus Housing?

Question

I am thinking attending community college soon. Is it possible for me to use student loan to help pay for my monthly rent? It states on the site, for FRESHMEN Dependent- $5,500 of which no more than $3,500 may be subsidized Independent- $9,500 of which no more than $3,500 may be subsidized How much would I...

Answer 1

NOT recommended. Remember, a student loan is money you have to pay back with interest so you'll still be financing that rent payment plus the interest decades after you've moved out. It's better to get a job to pay the rent.

Dependent means you're financially dependent on your parents. If they can claim you on their taxes you're a dependent. If not then you're independent.

23 is the age limit that determines whether you're dependent or independent:
https://studentaid.ed.gov/sa/fafsa/filling-out/dependency

Answer 2

It depends TOTALLY on the wording on the loan application. In most instances, no.