According to Student Financial Aid Services, students can receive financial aid for living expenses while going to school. The student is likely to receive a financial aid package that may include a combination of scholarships, grants, federal loans and private loans.
Typically, the tuition is covered by scholarships and need-based grants, while the rest of a student's living expenses can be covered through federal or private loans. However, scholarships and grants do not need to be paid back, and both federal and private loans do require repayment. Most often, if a student wishes to pay for living expenses, that money has to come from loans, as grants do not often cover more than tuition.