Can You Use a Student Loan to Pay Rent When You Rent a College Apartment?

If you are attending the University of Tennessee, Knoxville, in the Fall of 2016, it’s time to figure out where you’ll be living. Will you choose to live on-campus? Will you take advantage of the benefits to off campus living? If you are looking to rent a college apartment, the bigger question may be can you use a student loan to pay for it?

The Purpose of Student Loans

The Higher Education Act of 1965 states that students loans may be used for college tuition and for costs associated with college attendance, including room and board. There are some restrictions of course. For example, you can use student loans for transportation expenses but you can not buy a car with monies from a student loan. The same is true for room and board. The short answer, however, is that yes, student loans can be used for on or off campus living.

Advantages of Off Campus Living at the University of Tennessee, Knoxville

There are many advantages when you rent a college apartment off campus. The first may be the wider selection of living options. There are big advantages in that you can gain more privacy and choose your number of roommates. There are advantages to experiencing more of a real-life atmosphere and taking on more responsibility. Off campus living allows you to better choose the type of community you wish to live in and what amenities are available.

Rent a College Apartment at The Standard at Knoxville

Opening for the very first time in the Fall of 2016, The Standard at Knoxville offers luxury living on a new level. When you rent a college apartment here, you are choosing an amenity filled community with in-unit upgrades not found elsewhere. Each private bedroom in our community features its own private bath. Kitchens have granite countertops and full-size stainless steel appliances. Each has its own in-unit washer and dryer. Fully furnished units include custom designed furniture package and flat screen TVs for the living room.

The community itself is well-constructed, offering better soundproofing and insulation. Community-wide amenities include a resort-style pool, large game room and study areas, a Starbucks Coffee Shop, a state-of-the-art fitness center, free tanning and an outside courtyard area for tailgating and cookouts.

The Standard at Knoxville is a limited access community, with on-site management. We offer video-recorded security cameras in common areas, and an electronic key card access for added access control. We are happy to provide roommate matching services. We have raised the bar for off campus student living at the University of Tennessee, Knoxville.

If you would like to know more about how to rent a college apartment at The Standard at Knoxville, don’t wait. Some floor plans are already sold out. Contact us today and be one of the first to experience this higher level of college living. Our Leasing Center is located at 1819 Cumberland Avenue and we are available 7 days a week, Monday-Friday: 9-6pm, Saturday: 10-4pm, Sunday: 12-4pm. You can also apply online. We look forward to having you with us!

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