Student loans for educational purposes?

Tomorrow I am receiving the funds for my student loan. It's about 21,000 dollars. What I am wondering is how the student loan company tracks what you use the money for? I'm not looking to do anything stupid like buy a whole new wardrobe, but I'm looking to do things like pay my car insurace for the school year, and other bills so I don't have to worry about it while in school. I know they say any educational expense such as computers, books, etc. But I want to take care of bills, then school, then let the rest sit in the bank and collect interest. Is this a bad idea?

Student loans for educational purposes?
The money is for you to use while you are in school. They dont track the money, but you do what you want with it. If you need to pay bills, then pay your bills. Transportation is a big part of school, so if you need to do car things then do it. But you should take care of school first before bills. Also it is important to get good grades.
Reply:Nope...not a bad idea as long as you aren't a pysch or marketing major, or anything stupid like that.
Reply:if they are compleing you to spend the money in certain way and not asking the bill, you can spend the money in your way and repay the loan.
Reply:At least you won't be worried about bills while your trying to learn. They really don't care what you do with the money...because student loans WILL ALWAYS get paid back...you can not file bankruptcy on them and they will always be able to locate you through your social security number...
Reply:they don't care what you do, so long as when your allotted time is up they get their money back with whatever interest has accrued in the meantime. you might have the option of paying the interest on the principal which will make paying back the core of your loan a little easier.
Reply:If you borrowed the money and have to pay it back, then that is all they are interested in. Depends on what kind of arrangements you made with them.

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