May I use the federal Stafford Loan Program for educational expenses other than just the bill for the direct charges of tuition, fee, room, and board?
Yes, the federal Stafford Loan may be used to help with your family’s share of your Swarthmore bill but you may also borrow to fill a summer earning shortfall or instead of working on-campus during the academic year (especially if you will be studying abroad since US students are rarely able to work abroad), to buy a computer, or to travel home more than the 2 round trips factored into our aid awards. Note that federal Stafford Loan funds must be credited to your Swarthmore student account. If those funds overpay your Swarthmore bill, then you can be refunded the excess and you may use the funds for your other educational expenses.
Related Questions
- May I use the federal Stafford Loan Program for educational expenses other than just the bill for the direct charges of tuition, fee, room, and board?
- What is the difference between FFELP (Federal Family Educational Loan Program) and Direct Lending (The William D. Ford Federal Direct Loan Program)?
- If I borrow funds under the Federal Family Educational Loan Program (FFELP), i.e. Stafford loans, when do I have to begin to repay these funds?
