Hello,

I’m 27 and have decided to go back to school. I’ll be using the POST 9/11 GI Bill to pay for tuition and it should cover all of it. The only hiccup I have in my life financially is a lease on a car. I have negative equity in the car and I was curious if I could take out a student loan to cover the difference in my negative equity and get rid of the car. Is this feasible? Do I even qualify for a student loan if I’m going to school on the GI Bill?

Student loans may only be used to pay for qualified education expenses like tuition, books, room & board.