Survey: More College Students Using Student Aid for Other Expenses

FRESNO, Calif. (KMJ) — The cost of college continues to rise, with student loan debt in America reaching a record $1.3 trillion.

However, more college kids are also using a portion of that money to pay for other expenses, according to a New Student Loan Hero survey.

Two out of five surveyed say they use student aid to cover certain monthly bills, such as car payments and insurance.

A smaller percentage say they’ve needed student loan money for clothing and food.

Experts say while college is expensive, and essentials have to be paid for, students should exercise caution.

Aaron Abeytia anchors afternoon newscasts on News/Talk 580 & 105.9 KMJ. Read More…