abrown,
Well first to the question, I entered with nearly 50,000.
TO abrown, you can defer the loans (or most of the loans..maybe not some private ones) you had before but you have to look into it with you lenders and make sure they are aware that you will still be in school for 4 more years. You have to let them know. You probably wont have trouble getting money for living expenses etc. and it is possible to use the money for other things but you might want to get some good advice before using it on other debts. Considering the fact that most credit card interest rates are much higher than the rates on the student loans it may be something to think about but find someone who knows what they're talking about on that first.