I am a student and I can’t make enough money to afford a 1 bedroom apartment, cable, utilities, food, etc. The rent is $1133 a month. Is there anyway I could take out a loan of like $14,000? I have excellent credit but I don’t know if a bank would let me take out a loan just for an apartment, especially when I have an option of living at home.
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You mean a personal loan based only on your good credit for $14,000, when the bank knows full well the money will be gone in a year and you (apparently) don’t have any income to pay it back?? If that the kind of loan you are looking for??
You may as well just ask the bank to give you the $14,000, ask them about their free money to nice guys program – they don’t get alot of humor in their jobs (and no on the loan idea – though it could possible work if you have something worth alot more than that for collateral – stocks or a car or something)
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That’s truly exorbitant for a student! No student can take out a loan for apartment rent. You have no credit and no income! If your parents cannot pay the rent, then you need to live at home, especially since that is an option for you.
Student loans through your university can help with tuition, fees, etc. But your parents need to prove income for the FAFSA, and it is probably too late to get financial aid through your school for fall semester. If your parents live near the university, financial aid will not cover rent and other living expenses since you can live at home.
BTW, $14,000 would not cover rent, utilities, etc. Don’t forget all the deposits you have to pay to obtain the rental apartment, get utilities hooked up, etc. To afford an apartment in that price range, you need to earn about $5000/month or $60k/yr. You won’t earn that much even after you graduate – IF you can find a job!
Based on my experience, student loans cover all cost you need for your education such as books, supplies, tuition, room and board, and school fees. The advantage is, some student loans allow you to start the installment 6 months after you graduated. So, you will not be bothered of how you to pay the installment while you are in your education. About the amount of loan you can get is based on your capability in paying it.
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Nope
Student loans can cover living cost and tuition
That’s WAY too much to pay, anyway, for rent
If you have the option to live at home, do so. There is no reason to waste 1133.00 a month to live by yourself. Be happy that your family is close enough to stay with.
uh…lenders don’t lend for that reason; and landlords don’t generally rent to people who can’t pay the rent without a loan.
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