Loans are one of the most important things which help people to pay all the expenses which are necessary to do. One of the important loans which help to the students is Living Expense Loans. The living expense loans can be taken by the approval of private lenders or lending institution and not guaranteed by the federal government. Using the Living Expense loans, you can cover expenses like automobile purchase, childcare, tuition fees, books, food and other essential things.Student loans for living expense can be obtained through any lending institutions such as bank or credit union. These institutions need the conformation of the enrollment at a qualifying college or university before loan approval. Generally the Living expenses student loans require a co-signature or cosigner like your parent, spouse or friend who is willing to be your cosigner and have a good credit history. The income of the cosigner also matters in the loan approval since if the cosigner has the adequate income and if the borrower is a full time student then the chances of getting the loan is relatively higher.The repayment generally starts usually after 6 months to 2 years after the loan distribution. The time period can be extended if the student is still studying and completing his/her education. You need to take some precautions when going to apply living expense loans. The cost of living and tuition together goes very high and so student go for some very high student loans for living expenses. At the end they can owe well over $100,000. It is generally the amount which is necessary to purchase the home in some geographical locations. A Student living expenses loans are loans which need to be used for mandatory living expenses only because it is a loan and you also have to repay the loan.You need to be honest with the lenders. If the borrower can not be able to repay the college program on time then it is the responsibility of the cosigner to repay the loan amount to the loan institutions. So borrowers must have to consider these things before applying for the living expense loans. In addition with these loans, students can also qualify for the federal grants or scholarship programs which can help them in paying the expenses. These scholarships or grants are not repayable so you always need to go for these also. You also need to take care of the interest rates which the lenders charges to you and go for the lender who offers you lowest interest rates and better repayment schemes.