Can you get a student loan and not go to school?

Nope! Student loan funds are directly deposited to your college account. You don't see that $$ at all. It's like your mortgage. You don't get a $ 200K mortgage loan and not buy the house. read more

Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer. The Federal Perkins Loan Program is a school-based loan program for undergraduates and graduate students with exceptional financial need. read more

You need to make satisfactory academic progress in college or career school in order to keep getting federal student aid. Talk to your school about whether you can appeal the decision that made you ineligible to continue receiving federal student aid. read more

As long as you have made payments as agreed so far on your existing student loans, you are eligible to return to school and receive more financial aid. If your loans are in default, meaning that you have not made payments recently even though payments were due, you must get them back into good standing before you can receive more financial aid to return to school. read more

No. In fact, student loans come with an understanding that all proceeds will be used for school, and you have to sign it under penalty of law. Now, once you are in school, the list of items you can spend the money on can be large, but you must be in school. read more