<<Ever had a bank loan?? Its the same thing!! >>
actually, technically, it's not. when you sign the papers for a student loan (stafford loans or whatever they're called these days), part of those papers say that you will agree to only use the money for education-related expenses (tuition, room, board, books, etc), and NOT for non-education related things (which a 1272 counts as....unless you're a music major, i guess

).
how many of us do or did? i sure didn't. i remember truckin over to Crutchfield and buying a stereo with mine, along with a dorm fridge and a LOT of beer and pizza. they went in my room in college, so i could at least claim they were somewhat related to education

, but the point remains, the money you get from an education load is technically NOT the same as the money you would get from a personal/bank loan, and neither is the paperwork you fill out........
.....i guess mainly since it's money that's funded/loaned by the federal government (to some extent or another). yes, you agree to pay it back (and at a less-than favorable interest rate at that matter), but it's simply not "yours to do with as you please". there ARE stipulations attached to that money.
so, beezoboy, please understand that i'm not tryin to bust your chops or anything, b/c i know i did it too (and have been paying back my loans for the better portion of the last 10 years--almost done, yay!), but it's a fact that needed pointing out none the less.
cheers,
wade