Question by Trish: Can I use my student loan for personal needs?
I took out a student loan about a month ago. Not only did it pay for my classes, but my school [Lane Community College in Oregon] sent me a debit card. The money from my loan that didn’t go to my classes for the term was refunded and disbursed onto my debit card. Now, the loan website gives me a list of things I can use my loan for. But on the site where I check my balance and everything on my card, part of it tells me the different ways I can use it. Meaning, it tells me I can either select debit or credit when I buy something and they both act a little differently. Debit charges me a PIN fee, but credit doesn’t. In the same paragraph that describes those differences, it states “Whether it’s groceries at the supermarket, dinner at your favorite restaurant, computer supplies at the office supply store or a new pair of jeans at The Gap–use your Debit MasterCard® to pay for it. It’s easier than writing checks and you can save your cash for other things – like vending machines.” And then goes on to state the pros of selecting credit when you buy. So now I’m confused. Can I actually use the money on it to buy clothes and stuff? Does anyone know?
Best answer:
Answer by just not that
Yes, of course you can. It’s not like you can go to school naked.
Know better? Leave your own answer in the comments!
