I'm in a situation now where I will have about half of my last semester of school paid for. The other half I will make up with a small grant and subsidized student loans. This is where it gets interesting, because I can borrow up to about $12,000 this semester, since I was born before Jan. 1, 1980 and I'm independant. Some of this amount is subsidized until graduation, some is not.



It is terribly tempting to go ahead and take another 'extra' couple grand; maybe invest, buy a new computer, clothes or a bike. With interest rates being so low, I'll consolidate all my loans to probably less than 4%, possible 3% after graduation. It almost makes sense to do this. What do you think?

 

I dont know, sounds good but if you were me you would be scrued in less than 3 seconds... So what the hell... GO FOR IT!! Apersonal loan wouldn't have intrest rates that low!!

 

And you do need new clothes and a computer, DELL has some nice deals

 

good luck.

i'll owe just slightly under 20,000 dollars by this time next year.



whatever you do don't borrow unlessu need to.

0% sounds tempting, but it isn't 0% after you graduate.



20,000 is quite a chunk of money.

 

Buy what you need! Not what you want with it. If you don't need it, pay it back or stick it in the bank and collect some interest, but I wouldn't blow it on ****.

 

Hard to say are you sure you're going to have a job to pay it all off? Yes the intrest on the loans right now is good (Thank God I'm going to be in massive amounts of debt because of them myself) but it's still stuff you have to pay back.



Don't buy anything you don't really need.

 

i usually do that every semester with my financial aid and all. since my dad gives me $4000 a year that they dont know about, and since a few extra scholarships end up floating around, i usually have extra money throughout the semester to buy clothes, books, and keep my car running. it's nice, and a good deal since most of them dont have interest rates right now.



i owe $13000 right now, though, which i'll have to pay off once i graduate with my engineering degree

 

take note that graduating and job doesnt equate to existing debt relief...

as you incur a greater fiancial need once youve passed that hump and start your road to independence