I don't know how common it is anymore, but back in the 1990s it was completely possible to use a student loan to get room and board and then cancel your room an

I don't know how common it is anymore, but back in the 1990s it was completely possible to use a student loan to get room and board and then cancel your room and board in the first couple days of school and get a big fat check. A fair number of people did this just because off campus housing and food were cheaper. I wonder if students can still easily do this.