Are there any restrictions on the use of student loan funds?

Yes, there are restrictions on the use of student loan funds in North Carolina. All loan funds must be used for educational expenses such as tuition, fees, books, supplies, transportation, and other educational expenses related to the student’s program of study. Loan funds may also be used to pay for expenses related to the student’s attendance, such as housing and meals. In addition, loan funds may be used to pay for reasonable costs associated with obtaining the loan such as origination fees, loan insurance fees, and repayment fees. All loan funds must be used for educational purposes, and the student must demonstrate that the funds are being used for that purpose. It is important to note that student loans are not intended to be used as a form of supplemental income. Any student loan funds used for non-educational expenses may result in the student having to pay back the loan with interest.

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Are there any restrictions on the use of student loan funds?

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