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When Can You Pay for Books with Student Loans

Yes, federal and private student loans can pay for textbooks and other educational costs. However, going to the campus bookstore and buying every book on the required reading list isn’t the way to go.

Continue reading at PaydayChampion Installment department to find out how to get college textbooks with loans and other helpful hints.

Student loans can be used to buy books, but how?

Using student loans to pay for textbooks is not an option that you can take advantage of immediately.

The money you’ve received or borrowed is used in a specified order. This is how it works:

  1. In the first place, any scholarships, grants, and federal student loans that you receive (as well as any private student loans) go toward paying for your school expenses.
  2. If any funds are leftover, they will be returned to your account via check or direct deposit. Students eligible for financial aid may be eligible for book vouchers from their school’s bookstore. You have the option to purchase books independently instead of using these vouchers.

Your university must pay you the lesser of your predicted credit line or the accurate price of books and supplies within the first week of the semester. Reimbursed cash, including any remaining student loan money, can be used to purchase textbooks and other school materials.

How Can I Pay for My Textbooks Without Taking out a Loan?

Should you use your student loans to buy books?


If possible, try to avoid purchasing books using student loan money. Why? Because student loans make everything more expensive than it should be.

Students in the 2018-2019 academic year spent an average of $620 per semester on books and materials, as reported by CollegeBoard. If you use your funds to pay for it, you’ll only pay $620.

Federal student loans will cost you $720 if you utilize a 4.53 percent interest rate and a standard 10-year repayment term to pay for the costs.

Paying for books with a private student loan may pay even more in interest than you would otherwise.

If you utilized federal student loans to pay for books and private student loans to pay for books, you would spend $800 more and $2,720 more over four years of education, respectively, than if you used savings to cover the expenditures.

Saving Money on College Textbooks Using these Tips

Unfortunately, not every student has the financial resources to pay for their textbooks out of their own pockets. Do anything you can to lower your textbook expenditures if that’s your situation. A little more effort is worth it in the long run.

To save money on college textbooks, use these tips:

1. Purchase Only What You Require

If your syllabus isn’t accurate, don’t panic. Do not waste your student loans buying books you don’t need. Each of your teachers should receive a message from you through email. Begin by introducing yourself and mentioning that you’re attempting to save money. Inquire about using previous versions of textbooks and whether there are any mentioned books you don’t need.

Don’t give up if you don’t get a response or if you’re not satisfied with the answer. Perhaps the class hasn’t altered all that much after all. Hold off on buying books you’re not sure you’ll use until you ask your friends which ones they think are essential and which ones they don’t.

2. Use the Library to Borrow Books

Using the library catalog before purchasing any textbooks for the class is a great way to save money. Other students may check the book out, so do it as soon as possible.

Library catalogs aren’t the only freebies that libraries offer:

  • Sponsored by libraries across the country, the service is called Hoopla. Digital content such as books, music, and movies can be checked out for free. A subscription may be available through your local library or college library; sign up with your library card. Hoopla may include supplemental publications like novels or non-textbook nonfiction, but textbooks are unlikely to be available. Before you may download a book, there is no waiting or holding period.
  • Libraries use the Libby digital service to borrow audiobooks, ebooks, and magazines. Again, textbooks are unlikely to be found, but other nonfiction or fiction may be. It’s conceivable that the book you want won’t be available when you need it for class if you use Libby instead of Hoopla because borrowers must place holds on books that are already checked out.
  • Patrons can borrow books and other materials from any participating libraries through an interlibrary loan arrangement. Interlibrary borrowing is a term for this service. If your college’s library doesn’t have the book, you’re looking for. You may be able to request it from another institution. Check with your college or local library for information on how long you can borrow books.
  • Databases at the library: Textbooks and other books are available in PDF format in some library databases. Visit the library’s database resources and search for books on your wishlist. A decent place to start is with ProQuest.

3. Find a Free (and Legal) Copy of the Book on the Internet

Some textbook authors and publishers make their books available for free online through a legal license. Do a fast search before purchasing an eBook or PDF file to see if a free copy is available. Google Books and Google Scholar are excellent places to begin your search for literature and academic research.

Check Project Gutenberg if you’re taking an English literature class. Digital copies of older works that have been out of copyright in the United States can be found on this site.

4. Share this with a Friend!

Talk about the books you’re reading with others who will be in your class. Consider splitting the cost of the textbooks or simply buying them in turns if you’re taking a class together. If one of you is going home for the weekend or a mid-semester break, you can always Xerox papers.

When you require a school-specific book only available at the campus bookstore, sharing books is a terrific option.

5. is an excellent resource for comparing book prices. has the best deals on textbooks. The search engine will compare prices and delivery costs from all discount college textbook stores, including Amazon, once you enter the book’s ISBN. There are also coupons and relevant discount codes. Find new, used, rented, and eBooks using the search tool.

Depending on the cost of renting vs. buying and the current sell-back value, the site will suggest whether you should rent or buy.

6. Find a Facebook Group to Buy and Sell Textbooks at Your School

Find a community on Facebook where you can sell or buy textbooks for your school. Students can advertise books for sale or purchase in these online groups. The simplest way to find one of these organizations is to inquire with a current student to see whether one already exists.

It’s reasonably easy to find what you’re looking for in most textbook groups. It’s easy to find what you’re looking for by searching for the class name or ISBN. The prices of books sold by students are frequently lower than the books available on the internet, without an online price match.

Check the Facebook group before purchasing school-specific book editions from the campus bookstore.

7. Consider Buying or Renting eBooks instead of Paperbacks.

You can save money if you already have an e-reader or tablet. Consider the benefits and downsides of eBooks before deciding. Some students study better by holding, flipping through, and taking notes. Some see the benefits of cost-cutting measures.

In either case, don’t presume that an eBook is less expensive than a second-hand hardcopy. Compare the two costs, and don’t forget to account for the resale value of a hardcopy.

8. Toss in a Flossy Leave

In addition to traditionally bound textbooks, several publishers also provide more affordable loose leaf (also known as binder-ready) editions. You can get a loose-leaf copy for ten times less money for the same book. Most are also three-hole-punched, so all you’ll need to do is organize them in a three-ring binder.

What Do I Do with the Money I Earned from My Student Loans?

If you still have money left over from your student loans after buying books, consider returning it. It may be tempting to keep it in your bank account, but remember that you’ll have to pay for it in the long run.