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my school cut me a check...

ViviTheMage

ViviTheMage

Lifer
I have a unsub. stafford loan (no interest while I have it, and I start paying it off 6 months after I graduate) of 2250$ and I only needed 1790$ so they cut me a check for 460$...should I keep it or put it back into my loan so its less when I graduate?

let me add, I don't REALLY need the money...I have 1k saved up, but that will probably go towards my car loan (5k left @ 5%).
 
Originally posted by: ViviTheMage
I have a unsub. stafford loan (no interest while I have it, and I start paying it off 6 months after I graduate) of 2250$ and I only needed 1790$ so they cut me a check for 460$...should I keep it or put it back into my loan so its less when I graduate?

let me add, I don't REALLY need the money...I have 1k saved up, but that will probably go towards my car loan (5k left @ 5%).
Click to expand...

buy a cd?
 
Keep the extra and earn interest on it. Then you'll have even more when it's time to pay it back.
 
Originally posted by: Turin39789
Originally posted by: ViviTheMage
I have a unsub. stafford loan (no interest while I have it, and I start paying it off 6 months after I graduate) of 2250$ and I only needed 1790$ so they cut me a check for 460$...should I keep it or put it back into my loan so its less when I graduate?

let me add, I don't REALLY need the money...I have 1k saved up, but that will probably go towards my car loan (5k left @ 5%).
Click to expand...

buy a cd?
Click to expand...

I dont know much about CD/IRAs/401ks and the such.
 
That's what my cousins did. They ended up with a good chunk of change by the time they graduated (interest rates were pretty high in the 80s).
 
What is the interest rates on your student loan? Put into into a CD or savings.

The dark side of me says buy a Wii + Games
 
Originally posted by: SearchMaster
That's what my cousins did. They ended up with a good chunk of change by the time they graduated (interest rates were pretty high in the 80s).
Click to expand...

a CD? What are the rates these days...

Originally posted by: her209
New video card!!!
Click to expand...
uhmm, check my siggy 😉. the one I got is very fit!
 
Originally posted by: tfinch2
What is the interest rates on your student loan? Put into into a CD or savings.

The dark side of me says buy a Wii + Games
Click to expand...

I have wii + lots of games + GC games for my wii and GC controllers and such!

my goodies are covered :-D.

there is no interest rate until I graduate + 6 months after. Then it starts to accum interest.

Originally posted by: her209
Originally posted by: ViviTheMage
Originally posted by: her209
New video card!!!
Click to expand...
uhmm, check my siggy 😉. the one I got is very fit!
Click to expand...
I have signatures turned off.
Click to expand...

MSI 7900GT w/ ZALMAN VF700-CU
 
Originally posted by: toekramp
put it back, as someone paying off my student loans, every penny helps 🙂
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I'd keep it. Interest on stafford loans is ridiculously low. Think of it as your last basically interest free loan you will ever get.

Interest rate on my stafford loan back in the early 90's was super low and thats what im basing my post on.

 
Anyone who is waffling over $460 would have a stroke if they saw my student loans. My only saving grace is that my finacee will both be doctors soon.
 
Originally posted by: getbush
Anyone who is waffling over $460 would have a stroke if they saw my student loans. My only saving grace is that my finacee will both be doctors soon.
Click to expand...

You have two finacees?
 
Originally posted by: slag
Originally posted by: toekramp
put it back, as someone paying off my student loans, every penny helps 🙂
Click to expand...

I'd keep it. Interest on stafford loans is ridiculously low. Think of it as your last basically interest free loan you will ever get.

Interest rate on my stafford loan back in the early 90's was super low and thats what im basing my post on.
Click to expand...
6.80%
 
Originally posted by: getbush
Anyone who is waffling over $460 would have a stroke if they saw my student loans. My only saving grace is that my finacee will both be doctors soon.
Click to expand...

I know its not much compared to you kids who go to a Unni. I went smart and saved by going to the local CC for a while...and waiting til my junior year to hit up the U.
 
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