<p>From what i understand it has to be a certain type of student loan. Can someone walk me through the process or point me to a source where i can get that type of info?</p>
<p>uhh...a private student loan??...money goes directly to you so you can do whatever you want with it..</p>
<p>So i just go to a bank, take out a student loan that covers tuition and room/board? That simple?</p>
<p>not that easy...you gotta qualify for it (do a search for it in the financial aid forum). If you don't have a job/established credit, you'll need a cosigner.</p>
<p>the apartment is off campus right?</p>
<p>is your complete tuition being paid by either merit aid/parents cash/scholarships, grants, etc --anything but loans? if so, any federal loans you pull out will be refunded to you as cash (from my understanding) so this way, you dont need to qualify based on credit/employment and interest rates are cheaper..</p>
<p>Here's how it works at my school: you designate yourself as a student living off campus; the school takes that into consideration when calculating your cost of attendance. After registration closes (maybe sooner) the bursar's office will being processing refund checks. Your loan goes through the bursar's office. The money will be applied to your school expenses (tuition, etc) and then the remainder (intended to cover living expenses) will be cut in a check to you.</p>
<p>Trust me, there is no issue with my parents getting a private student loan. We are pretty well off and from what i understand, my parents have excellent credit.</p>
<p>That's great, JackD, but did you have any questions about how the process works? Remember that you'll be lucky to have the check come in in time for <em>October's</em> rent.</p>
<p>i didnt questioned your parents ability to get a loan, i was questioning your ability without your parents cosigning.</p>
<p>anyway, if they're so well off, why dont they just pay your college rent with cash? are you renting out a $2,400/month penthouse condo for college?</p>
<p>Pip, my dad says that student loans are almost instant and I was reading online that they take no time at all to get. I will probably find an apartment and get the loan later this month. I need to see if i got into a dorm or not(i'm guessing not)</p>
<p>Your school may work differently. In my case, I got a mix of private and federal loans; while the funds were released immediately, they were processed through my school's bursar's office rather than cut directly to me from the bank, which caused the delay. Your school's procedures may be different. You may want to check with your school's financial aid office, as well as the bursar's (who will be most likely be processing any financial aid funds).</p>