When I went to school I never personally saw a dime of the student loan money I borrowed. It was deposited directly into the College bursar’s account in the exact same amount as my tuition and associated fees. I wouldn’t have had the opportunity to use it for other purposes.
Me too. It was taken to pay tuition and room and board as were any BEOG (now called Pell) grants.
I also had a part time job on work study and they got any of the money if I still owed above. The rest was kept for future fee offsets.
If I wanted cash I had to get a real job also which I did while still taking 15 hours or more a semester. Amazing what you can do with time when you aren’t wasting it going to parties and pledging a ridiculous fraternity.
That was the situation with me in my collegiate days (1962-66). My other expenses (clothing, entertainment, car, etc.) were paid for by my part-time work, which ranged from 25 to 30 hours a week.
I was totally exhausted upon graduation.