Where can I get an uncertified student loan?
Beebe: There is no such thing. No legitimate lender will allow a borrower to use “student loans” to pay for non-educational expenses, any more than a lender will allow you to take out a “car loan” without some evidence that you’re actually buying a car. A school loan is a specific type of lending instrument, with some very unique characteristics. There are no other types of loan products that are generally available to applicants with no current income, few assets, and no credit history – and there are few other types of loan products that allow the borrower to postpone making payments for 4 years or more. Lenders control the use of their student loan funds by requiring certification. If you have already “covered” the Cost of Attendance at your school with other sources of funding, the lender “knows” that you want the money for non-school purposes. If you have unmet school need, because you spent “school money” on other expenses, this is even stronger reason for the lender not to lend
