Do student loans count towards income for the purpose of obtaining a loan?
Jonathan H asked:
I’m in graduate school and I’m taking loans for all of my living expenses. It comes out to about $25,000 per year for living expenses. If I fill out a loan application, can I include this as income which is otherwise nothing?
I’m in graduate school and I’m taking loans for all of my living expenses. It comes out to about $25,000 per year for living expenses. If I fill out a loan application, can I include this as income which is otherwise nothing?
November 17th, 2009 at 3:26 am
No. Sorry, but on the bright side, most lenders won’t be checking your income. That’s why so many mortgages are in default.