<p>@thumper1 Basically, I know my relatives would be happy to help me out as long as I paid them back.</p>
<p>If you are going to borrow money from family members, be sure to draw up a formal loan agreement that states the principal, the interest rate (if any) and terms for repayment. And when you are out of school, make certain that you do pay the money back under the terms that have been set up. That way there will be no questions in the future about how and when you are expected to repay everything, and whether or not you have indeed cleared up your debt to them.</p>
<p>Also, if this is a formal loan it will be treated differently on next year’s FAFSA than if it looks like it is money given to you by a family member. College expenses and living expenses paid by a relative (other than your parents) would need to be reported on the FAFSA, but money loaned to you doesn’t.</p>