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As long as she's the one repaying the loans, there's nothing illegal or unethical about it. However, I would definitely not learn money management from her. That bill will come due and you cannot default on student loans.

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Actually, there is. Student loans often have a different interest rate, because they are intended for educational use. Depending on what kind of loan those student loans are, purposely over-borrowing for non-educational purposes could be considered fraud.

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Could be. Theoretically. In reality I worked in a financial aid office at my local community college, and, well there's a certain class of person that has no shame at all in using financial aid for whatever they damned well please. And there's an even lower life-form that will drop all their classes after their re-fund comes through (because fin. aid refunds can be dispersed in cash). We a not legally able to investigate their use of funds. It's a violation of privacy. "Well I better get my check soon, I need 5 grand, me n' my kids are going to Disney World." Litterally, and proud as hell, like "Well at least I'm rewarding my kids."

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