Can Student Loans Cover Off-Campus Housing? What You Need to Know For many students, the dream of college includes the freedom and independence of living off-campus. However, this often comes with a significant price tag. A crucial question arises: Can student loans cover off-campus housing expenses? The answer, in short, is generally yes, but understanding the nuances is critical for effective financial planning. Understanding the Basics of Student Loans and Housing Student loans are designed to help cover the cost of attending college. These costs typically encompass tuition, fees, books, and living expenses. The crucial point is that "living expenses" aren't restricted solely to on-campus dormitories. They can, and often do, include the costs associated with renting an apartment or house off-campus. Federal student loans, such as Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans, offer the most flexibility and favorable terms. Private student l...
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