How to Get a Student Loan to Pay for Off-Campus Housing

Hello, I’m Cherry Ashwood. I’m a guidance counselor and today I’d like to talk with you about how to get a student loan to pay for off-campus housing. You’re either a first time in college freshman and you’ve decided that you don’t wan to stay in a dorm or you’re attending college a little later in life and you’re definitely not going to stay in the dorm with a bunch of teenagers.

You can obtain a student loan, and student loans are primary awarded to the school and you will get what is called a net check. Student loans and any other financial aid disbursements are given to tuition and fees first. Net check happens in maybe a couple of weeks into the school year. This may cause some hardship if you’re living in an apartment or a housing of some sort that may not be as understanding about that.

If you were to obtain a private loan, a student loan just the same is going to be applied towards tuition. But if you were to obtain a private loan from a lending institution that’s willing to put the money directly into your hand or your bank account, then you would have the money available for off-campus housing. Your best bet maybe to have a part-time job or money saved in order to pay for your off-campus housing or you may just decide to live on campus because it may be more financially sound. I’m Cherry Ashwood. I’m a guidance counselor. I’m very proud of you for deciding to continue your education. Your future starts today.