The allure of a new car can be strong, especially for students juggling studies and independent living. But before you consider using your student loan funds for a vehicle, it’s crucial to understand the potential consequences. This exploration delves into the intricacies of federal and private student loan regulations regarding car purchases, highlighting the financial implications and exploring responsible alternatives. This article examines the legal aspects of using student loan funds for non-educational expenses, detailing the potential penalties for misuse. We’ll compare various financing options, including auto loans and personal savings, weighing their advantages and disadvantages to help you make Read More …