If I get accepted to an AA program, I will have to buy a new car before the program starts. Does anyone know how feasible it is to use some of the monthly student loan money to pay the monthly financing fee of a car? I am single, no kids, and plan to stay that way throughout the duration of AA school. I was thinking that I would get the money from the loan company each month, pay the monthly financing fee directly to the car dealership, and then just pay back the loan company after I graduate. If there is still an unpaid balance on the car when I graduate, I would just continue making payments on it with the money that I'd be earning each month as a working AA.
Has anyone done this before? Do the loan companies allow students to borrow enough money per month to pay off a car and also manage living expenses?
Thanks for the advice!