I am little confused, if I take out a private loan with a bank that is not stipulated to be for school expenses, does the school take it into account?
So, I am borrowing 10K from My Rich Uncle to pay off debt and get me to school. It is a private loan that does not go through the school, will the financial aid office decrease their award to me by 10K?
How will they even know as the loan does not even go through their office?
I would appreciate any help. I donít want to spend this 10K (received today) and find out that my school knows about it and expected me to use it.
THANKS IN ADVANCE FOR ANY HELP!