The allure of a new car is strong, especially for students navigating the complexities of independent living. However, the question of whether student loans can fund this purchase is a crucial one, demanding careful consideration of both immediate gratification and long-term financial well-being. This guide delves into the intricacies of using student loans for a vehicle, examining the potential benefits and pitfalls, and ultimately empowering you to make an informed decision. We’ll explore the eligibility criteria for various student loan types, the financial ramifications of such a decision, and compelling alternative financing options. Understanding the impact on your credit score Read More …
