That said about federal student loans, it is a low interest unsecured type of debt. At a bank an unsecured loan is at least 11-16% depending on the amount.

So if you as a student do have some of that debt leftover, it is much smarter to use that toward a car down payment or a deposit on an apartment. I feel like most college kids don't have even the slightest grasp on budgeting and how all transactions affect the accounting equation honestly.