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arrgg.... thinking about getting a student loan

Z

zixxer

Diamond Member
my job pays enough for me to live okay - I have a little credit card debt ~$1500, and make payments on a motorcycle. I'm currently in school, and can't get a better job mainly because my current job is fairly flexible w/ classes. I bought my first house about 6 months ago, and this is sucking up a lot of my $$



I'm about $2000 away from being able to rent out a basement apartment. I need to buy cabinets and other misc materials to make it completely seperate... I could rent it for half of my mortgage


I'm thinking about getting a student loan to be able to do this... and maybe get a macbook (currently don't have a laptop - but don't *need* one either) I was thinking about a loan in the $3000 range.


opinions? I'm not making a poll either so bleh.
 
Your first priority should be eliminating your high interest credit card debt. You don't have much; tightening up the purse strings for a few months ought to get you out of the hole.
 
Why not use all the money on renovations first instead of buying something you don't need right now? Plus isn't the interest rate tax deductible if used on home improvements?
 
That doesn't really sound like a good idea. Do you even need a laptop or do you just want one? Also, why go for the most overpriced one (or brand) available?
 
I just want one - mainly because the new macbooks are becoming the rage - and I have a lot of on the side computer work - 4 of my clients have macbooks.


I know I need to get rid of the cc stuff.... arg
 
You're already in debt, and you're trying to justify taking out more debt to buy something you don't really need (MacBook)

LOL, you sound like my GF's dad...
 
can you guys read?


$3000 loan.

$2000 towards getting a basement apartment ready for rent... will get at least $700 a month for that.
$1000 for a macbook.





How about I reword it to $2000 loan, that will get the basement apartment ready for rent, which will help pay off cc and get a macbook?
 
pffffft....student loans rock....get enough for cabinets and what not, macbook, and pay off CC debt...the way i see it student loans are way cheaper than CC...depends on what ur APR is i guess...
 
Originally posted by: zixxer
my job pays enough for me to live okay - I have a little credit card debt ~$1500, and make payments on a motorcycle. I'm currently in school, and can't get a better job mainly because my current job is fairly flexible w/ classes. I bought my first house about 6 months ago, and this is sucking up a lot of my $$



I'm about $2000 away from being able to rent out a basement apartment. I need to buy cabinets and other misc materials to make it completely seperate... I could rent it for half of my mortgage


I'm thinking about getting a student loan to be able to do this... and maybe get a macbook (currently don't have a laptop - but don't *need* one either) I was thinking about a loan in the $3000 range.


opinions? I'm not making a poll either so bleh.
Click to expand...


So you owe 1500 to the credit company and you wanna take a loan to buy a 1500 dollar laptop? Someone slap this guy...

How about you get some sense and then maybe take out the same student loan to pay for your cc dept at double digit apr?
 
Originally posted by: zixxer
can you guys read?


$3000 loan.

$2000 towards getting a basement apartment ready for rent... will get at least $700 a month for that.
$1000 for a macbook.





How about I reword it to $2000 loan, that will get the basement apartment ready for rent, which will help pay off cc and get a macbook?
Click to expand...

How are you currently paying for school?
 
Originally posted by: MrChad
Originally posted by: zixxer
can you guys read?


$3000 loan.

$2000 towards getting a basement apartment ready for rent... will get at least $700 a month for that.
$1000 for a macbook.





How about I reword it to $2000 loan, that will get the basement apartment ready for rent, which will help pay off cc and get a macbook?
Click to expand...

How are you currently paying for school?
Click to expand...



State scholarship that pays for 100% of tuition if you have a 3.0 or better


if that fell through (it won't though) my work will pay tuition as well
 
I did this when I was in school and regret it. Don't take out a student loan to buy/do a bunch of crap you don't actually need. Believe me it sounds a lot better right now than it will when you realize how dumb it was later.

I also had a full ride when in school which led me to use such phrases as 'Everyone else will leave school with a lot more debt than me!' to convince myself that it was okay. It's not okay.
 
Originally posted by: zixxer
Originally posted by: MrChad
Originally posted by: zixxer
can you guys read?


$3000 loan.

$2000 towards getting a basement apartment ready for rent... will get at least $700 a month for that.
$1000 for a macbook.





How about I reword it to $2000 loan, that will get the basement apartment ready for rent, which will help pay off cc and get a macbook?
Click to expand...

How are you currently paying for school?
Click to expand...



State scholarship that pays for 100% of tuition if you have a 3.0 or better


if that fell through (it won't though) my work will pay tuition as well
Click to expand...

With my student loan, they went through the Financial Aid Office and ONLY approved me for an amount that came to Tution - Grants/Scholarships - Federal Loans - Other Loans.

So if I was in your case, my lending comapny wouldn't have approved me for any amount since all of me costs would've been met.
 
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