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Scheme where one enrolls in classes, takes the maximum student loan allowed for the course load, then drops all of the courses except for the minimum required to retain the loan.

The individual will usually be unable to repay the loan but in the meantime will have a large amount of disposable cash.
C: Did you see Jojo and her new clothes? I thought she didn't have a job...

B: Yeah, she's playing the student loan game. Gonna fuck up her credit, but gonna ball hard in the meantime.
by ScaredandLonely February 20, 2010
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