Get a Stafford Loan

[Britboy]

I started my MBA in August, a 2 year weekend program. I am working full time and get my tuition reimbursed by my employer.

I would like to take out a Stafford loan and put the money into a Money Market Account in case I lose my job or if I take a leave from work to go to school full time next year.

Right now I submit my grades to my employer and they cut me a check, I pay the school from my own bank account. Does anyone know if I can still qualify for these loans?

Any insight is appreciated.

 

[casper114]

Well you can still qualify for the loans.. and with a subsidized stafford loan the government pays your tuition while your in school... when your out of school your interest rate isn't to exceed 8%... if your money market account yields a return of more then 8%per month it would be worth it while your in school, depending on your situation.. If I were you I would wait untill the tuition is payed for by your employer then take out the loan...... Still don't know if it's that great of an idea though.

Definitly don't take out an unsubsidized loan though, you have to pay all the interest, and it builds up while your not paying it.