Student loans are designed to help cover the various costs associated with higher education. The goal is to give students the necessary funds to successfully complete their studies. The range of expenses that can be covered by both federal and private student loans is quite broad, encompassing more than just tuition. Here are some of the eligible expenses:
Tuition and Fees
On or off campus housing
Meal plans or groceries
Books and Supplies
Transportation to and from school
Understanding what student loans cover helps in budgeting and ensures that funds are used appropriately.