Will I run into a problem if i use student loans to purchase a house?
2 attorney answers
I listed foreclosure as the topic because it fits better than real estate.
The answer depends on the terms of the student loan. I feel certain that the terms of the loan will have a provision that restricts the use of the funds for education. Breach of that provision might allow the lender to call the loan due. It could also have consequences of fraud, depending on what you put on the loan application. Finally, a student loan is not dischargeable in bankruptcy.
By answering this question I am not becoming your attorney, nor am I tendering legal advice. Foreclosure cases are complex and require a full review of the facts before any attorney can answer legal questions specific to the case.
You should not use your student loan to purchase a house. Student loans are only for school related needs.
If my answer was helpful to you, please click on "helpful" or "Best Answer". My practice focuses on high net worth and complex divorces, divorce and separation, custody, family based and business immigration, estates and litigation. I'm licensed in PA, MD, NY and NJ. This answer is for informational purposes only. It does not establish an attorney client relationship.