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Will motorcycle loan affect financial aid?
In: Auto loan
28 May 2010I am currently receiving full financial aid for my college. I am looking into getting a motorcycle, in order to do so, I have to get a motorcycle loan. I am wondering if the loan will affect my financial aid?
I am sure many people here have motorcycle loan during college year. I just want life experience of whether it affect or not? Doesnt have to be motorcycle, a vehicle loan is fine too.
Thanks
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1 Response to Will motorcycle loan affect financial aid?
Found-1
May 28th, 2010 at 11:56 am
Unless you are currently receiving private loans (which require a credit check-they check your debt to income ratio) then a motorcycle loan would not effect your fin aid. Debt is not considered for eligibility… unless you are defaulted on a federal student loan.