Got 20,00 for a student loan, used less than expected, what to do with remainder?

[LiquidClen 10+ year member]

ok buy hookers and coke in new counties.
How's that?

great answer. but in reality i'll probably just use it for car insurance and tuition. $260/month FTL //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[haunther]

ok buy hookers and coke in new counties.
How's that?

This.

 

[patrick1202 10+ year member]

laptop for school (if you don't have one)

thank god i only had to take out 2g's for books and access fee's and bs.

 

[patrick1202 10+ year member]

playing tuba ftw...

put back for books or get something that would help you in school(depends on major)

or snort some coke of a hooker's tits for a couple day's then spend the rest on herpe treatments??

lmao i saw your title and saw 20,00 and thought you said 20 dollar's at first pahah had to do a double take

 

[LiquidClen 10+ year member]

laptop for school (if you don't have one)thank god i only had to take out 2g's for books and access fee's and bs.

actually just got a new one so im set.

 

[LiquidClen 10+ year member]

also could use about $1500 to pay off credit card debt.

 

[MyFartsStink 10+ year member]

Gambling and drugs

 

[headlesskoopa 10+ year member]

pay off cc debt rest in a 5 year CD like previous post mentioned

 

[Hintzyboy 5,000+ posts]

x2
Lmao @ team of strippers.

Or just put it into a 5 year CD and come out with the money plus some interest so you can pay it back and enjoy the interest.

Except for the fact that you're only looking at around 3% interest on a 5 year CD. The rate on the loan will easily match and probably top that, so he won't be making any money, and may very well be losing money compared to just paying it back asap.

Again, unless you can invest in something that earns interest at a higher rate than your student loan, you should just pay off higher-interest debt (i.e. credit cards) and then pay the rest back right away.

 

[Cameron_B 10+ year member]

Except for the fact that you're only looking at around 3% interest on a 5 year CD. The rate on the loan will easily match and probably top that, so he won't be making any money, and may very well be losing money compared to just paying it back asap.
Again, unless you can invest in something that earns interest at a higher rate than your student loan, you should just pay off higher-interest debt (i.e. credit cards) and then pay the rest back right away.

Yezzur

 

[orangecounty1 10+ year member]

I took out 20k anticipating it to only last 2 semesters worth of tuition. I ended up getting some grants and other monies, and so I have about $6700 left of the loan. I can either
a) use it for living expenses [still probably have a ton left over]

b) invest it [if so, what?]

c) save it for future tuition [boring]

d) other

What say you CA.com?

i say invest it, or pay it back. dont spend it on things like car, ca, etc.

also, i lol'd at your location "SoFla" hahaha

 

[Rmsanger 10+ year member]

Payoff any CC debt and save the rest.

Studend loan APR %

Also assume you got Fed Subsidized loans so you can get the int rate covered by the Feds until you graduate?

In the mean time I would open a money mrk account, the yield will probably not be much above 2% over your student career.

 

[sexiewasd 10+ year member]

There are a ton of companies with depreciated stock value right now, especially in the tech sector. If the depression starts to rebound any time soon you could make a few grand extra to pay on the loans. You may want to get rid of the CC debt first though.

 

[IamDeMan 5,000+ posts]

I say you give it to me for my future tuition.

 

[LiquidClen 10+ year member]

Payoff any CC debt and save the rest.
Studend loan APR %

Also assume you got Fed Subsidized loans so you can get the int rate covered by the Feds until you graduate?

In the mean time I would open a money mrk account, the yield will probably not be much above 2% over your student career.

I looked for a FedSub loan but couldn't find one without a HUGE interest rate (7% or more). The one I have is a Private loan with 3.28% interest.

*EDIT* and the Unsub worked out to be cheaper in the long run