<p>You know, those students who take out a loan for "academic purposes" but end up buying a car, laptop, etc. </p>
<p>Do you think it's "right" for them to do it, or is it up to them to do what they want?</p>
<p>If the laptop is taken to school and they use it for schoolwork, then I don’t see the big deal.</p>
<p>If the laptop helps the person in school, I don’t see the problem with it. Same with the car; it’s really hard to do well in school when it’s a struggle just to get there. I get a small refund each semester from my loans, and I usually try to save it but sometimes things happen, and i need to use the money to supplement what i make at my jobs to pay rent, school expenses, other bills or whatever happens to come up (like this past semester when I had to buy a mattress!)</p>
<p>No I totally agree. I made this thread after reading an article about “it not being right” students taking out loans for “academic purposes” and then turning around and buying cars, laptops, etc. I myself may need to take out a loan to buy a laptop.</p>
<p>Well I guess it’s their own business if they need to get that, but it’s also their own problem then in the end when they end up with all that debt.</p>
<p>Students loans are non-dischargeable in bankruptcy court. Hope they have fun paying a car back on 6.8% interest per annum.</p>
<p>they can do whatever they want; it’s a LOAN. they’ll have to pay it back. I, personally, used the $4,000 student loan, as a down payment, to lease a new 2011 bmw 335i coupe. I’m making the monthly payments with some of my financial aid money, but eventually, i will have to pay off the loan. It helps get me to school and back and it also helps me get laid.</p>
<p>Your choice to do that, but I’m fairly certain that’s a federal offense.</p>
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<p>transportation cost.</p>
<p>I don’t see it as a problem considering they have to pay it back.</p>
<p>My ex had to do it- it was the only way he could go to school. He has been on his own since he was 16 and didn’t have enough money for a car or a laptop to get to school or do his hw. He bought the laptop first, did the first semester online, then bought a car in order to get to and from school. What’s wrong with any of that?</p>
<p>Now… for someone to use it for partying or whatever, yeah i think it’s dumb- but still their choice. I really doubt they fully understand the consequences of their actions though :/</p>
<p>A loan is no problem, in my opinion. The thing that irks me is when people use scholarship money for non-school related things, like alcohol, marijuana, and trips.</p>
<p>I don’t see the problem with using loans for other expenses as long as it’ll be paid back. Purchases such as laptops, transportation, rent, household items, etc. during the school year mostly seem justifiable as long as they fall under living expenses/school supplies.</p>
<p>What about when you get too much scholarship money? What should be done then, in your opinion? </p>
<p>I get waaaay too much scholarship money from my school (thousands) and I spend it on sorority dues as well as concert tickets, alcohol, and drugs (which I know no one will agree with or support but whatever, I don’t need to defend it). So what do you think should be done with excess scholarship money? Assume ALL other living expenses are paid for.</p>
<p>^ Personally I’d bank it, even if it isn’t a lot it can add up and it could be a lifesaver later on down the line.</p>
<p>yeah thats what im going to do when i get my leftover loan money is to get a car(aka)transportation costs</p>
<p>Pfft student loans.
Anyone want the cell # to my loan shark?
I defaulted on one payment and he only broke my knuckles and smashed my sideview mirrors, Some would kill for that!</p>
<p>But seriously people going to do what they do, but I would use a student loan for its intended purpose. Using a loan to payoff a downpayment or other “costs” could really hurt in the future. I job isn’t guarunteed right after college…Not with this economy.</p>
<p>I don’t see a problem with using student loans to pay for a laptop. It’s a pretty essential tool in today’s educational world. Lord, freshman year of high school, I had at least three papers due a week… I don’t know what I would have done without a computer, and that was just freshman year of high school.</p>
<p>A car could be justifiable. If you don’t live in a big city and you want to have an off campus job or internship, then a car is definitely a must. I mean, where I live, there are six colleges, and I couldn’t imagine going to any of them without a car. My town just has terrible public transportation and it would simply be impossible to do anything off-campus.</p>
<p>At this point though, I don’t think that I’ll be taking out any loans. If I did, my parents wouldn’t have to pay anything for my education and I wouldn’t have to have a job, but I’d rather leave school without $20k in debt, though I have toyed with the idea of getting just the subsidized loans and saving up money while in college to pay most of them off as soon as I got out of school… But that would be way too easy to screw up, so for now, I’ll try to stay loanless.</p>
<p>And there’s nothing wrong with using scholarship money for that purpose either, in my opinion. I know a lot of schools will only give you as much aid/scholarships as is the total tuition at their school, but my college lets you take everything. If you get “too much” aid, they treat it as money you’ve earned and they write you an overage check. So I know some people who are actually being paid to go to my school. It’s more of the smart kids with an EFC of 0 that are getting it, but in my opinion, that’s okay. They need the money.</p>
<p>When students **** away student loans they are only “abusing and misusing” themselves. The bank is getting paid no matter what. The only Bad Guy(if there has to be at least one) is probably the loan officer.</p>