How to Get a Living Expense Student Loan
- 1). Fill out a Free Application for Federal Student Aid if you have not already done so. The federal student loan program, called Direct Stafford Loans, may cover your living expenses. These federal student loans are distributed directly to you, not your school, so you can pay for rent, groceries, utilities and car payments if needed.
- 2). Ask your parents to apply for a federal PLUS loan if you are still considered a dependent. The PLUS loan program requires the parent to fill out a Direct PLUS Loan Application along with a Master Promissory Note. Graduate students may also apply for a PLUS loan, as Stafford loans are unavailable after the undergraduate years.
- 3). Apply for private student loans. Private student loans are unsecured loans offered through commercial banks and lenders. These student loans are closer to personal loan products, as you need to pass a credit check in order to qualify for them.
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