<p>So lemme get this straight.</p>
<p>You’ve got $1000. You’ve got college expenses of (at least $1000). And you’ve been offered a no-interest loan of $1000.</p>
<p>You want to:</p>
<ol>
<li>Take out the loan for $1000, and blow it as “spending money.”</li>
<li>Use your $1000 to pay the college expenses. </li>
<li>And then repay the $1000 eventually with-- what? </li>
</ol>
<p>I don’t think you have a good grasp of money management.</p>
<p>Go right on ahead if you think you make money that way. You can only borrow up to your COA, and the rates aren’t that terrific.</p>
<p>
</p>
<p>No. That’s not 100% what I mean.</p>
<p>I guess what I’m asking is if say all the savings I have is 1000. If I am not allowed by FAFSA to put that money in the bank since I’ll be penalized for it, where would I get some everyday spending money?</p>
<p>Does FAFSA essentially force you to get a job and live without any savings? Where does savings/checking account money fit into this equation?</p>