<p>Hey guys. I’ll be going to UCLA in the fall and I have my entire cost of attendance covered through scholarships/grants from UCLA. I was wondering if I could still take out student loans to spend on whatever I want. I need to pay off my braces. Please let me know. Thanks in advance. =]</p>
<p>Ask at the financial aid office. Explain your situation. They will know if it is possible.</p>
<p>Personally, if you have everything covered by scholarships and grants, I’ve got to ask why don’t you come up with a part-time job to pay for the braces? The temptation to take out a loan for braces this year, and for something else that it looks like you “need” next year, and then one for a car, or for just running around and doing fun stuff money the year after that can end you up in a very bad financial place very quickly.</p>
<p>I agree with happymom - to “pay off” one loan with another isn’t paying it off at all, it is just getting deeper in debt. A part-time job is a great idea.</p>
<p>Ditto. It’s wise to pay off a loan with another credit instrument IF it will give you a lower interest rate. But, one of the most importnt things you can learn in college is how to manage money and debt and how to manage your time so you can work while you’re in school. Don’t let the wonderful fact that you’re getting a free ride on tuition and housing go to your head and give you a mindset that it’s time to splurge. You’re a rare american if you very little debt - keep it that way as long as posjsible!</p>