k so im going to nait and i have student loans, and if you have student loans then your not suppose to have a car, well atleast worth more than 5000$ so i have an 03specv, and i want to register it but i dont want the government to find out, im sure alot of ppl have went through this problem of driving a car and student loans, so my question is… how did you get away with driving it
ex. put the car in someone elses name?(family member?, but then what about tickets? you mom get all of them haha)
i honestly don’t think they’ll find out. even if they do what can they do about it? you don’t have to claim anything car related on income taxes, so i can’t see them ever finding out.
Back when I was in school, there were 2 things that people did:
De-value their cars, so they came in under the limit. The student loan isn’t used for insurance or taxes or anything, so if you write that your car is only worth $4700, then it’s not like the insurance company can use that if you ever get in an accident. You’re just a student, you don’t know what it’s worth. It’s a guess.
I never liked that option, and the far more common way (at least among my friends) was to keep the car in a parent’s name. Yes, photo radar tickets go to your parents address, but so did most of my other mail. And since there’s no demerits with photo radar, the only thing you have to worry about is your parents knowing each time you get one. Tickets from a real cop are given to you, and your parents never need to know.
When I was in University (back in the mid-late 90s), I was driving an '84 Ford Escort just so I could afford to go to school. If you’re driving an '03 Spec V, I’m sure having photo radar tickets go to your parents house is a pretty small price to pay.
They can find out and they can cut your funding just like that. There is no real way to get around it other than straight up lying. If you get caught, you get caught. I did lie on mine but mine was a 15 year old jdm that was for 8k so it was easy to pass it as 5k to my advisor and such. I dont think you’ll be able to fly a 2003 spec-v as a 5k car tho. I have heard of and witnessed people getting caught either lieing about their cars or their family incomes or job incomes and their tuition got canceled within a week.
This is the way of government weeding out the student laon for people who really needs it.
shit!!! see well i called them and they said that aslong as i dont drive it all the time then its ok, i told them its my moms car(its mine) and i would only drive 2-3 days a week for w/e, also, they said that they can somehow… see if your buying parking passes and then they will know your driving everyday, so im going to get a friend to buy a parking pass for me under his name and ill be ok there. as for the gov’t if i get caught, ill say im only driving it part time and its my moms car, but i had to put it in my name to register it, and if i have to sell it, i can just sell it to her, also they told me to write a letter telling them i have it because your "suppose"to claim it when u apply for a student loan, so yah, w/e that my plan, you think it will work?
if i do sell it i will sell it for 1$ to my mom haha.
and yah theres no way a 16000$ car will pass for 5000$ espically a 2003,so i cant pull that off.
thats retarded that you have to go through that just because you drive a newer car.
tell them if you had a cheap car you wouldn’t need a student loan. 
haha i know, well im scared they will cut my funds for sept!
if they call i will just say im only driving a few days a week,< 10 000km yr = bullshit,
but then it should be ok. if they cut my loan i will call and bitch and get it back haha.
STUPID GOV’T
stupid gov’t ?! Give me a break. You can’t have everything, buddy. Maybe you should get your priorities straight first ?! If school is more important than your car, sell it or downgrade so you can put that money towards your tuition.
Post-secondary student means you should be broke unless you are coming from a better-income family. Which is fine, if you are coming from a better income family, than they should be helping you and you dont need a student loan and you can drive your 3 year old basically brand new car all you want.
Sorry to lecture but calling the gov’t stupid because you cant have everything you want is very immature.
i have never taken out a student loan, but i assume they don’t give you the entire dollar amount of the loan at once do they?
no you get your tuition deducted all at once and then you get checks later on in the year to pay for books and what not.
and to the stupid gov’t thing, what if you have a car and your parents are going to let you drive it for school, they dont want to sell it because when your working next summer you need a car! w/e i just hope its all good.
Yeah, I’m with Slide on this one … you can get a pretty reliable car for $5k, and that leaves $11k left which is plenty (the max student loan is $8K).
I’m not saying that you should lose the car, but I’m saying that there are plenty of students out there with much bigger problems, so this problem just seems pretty fucking minor.