AKAICEBERG

I was just wondering because I have about $10k saved in student loans and we all know that student loans are some of the best loans you can get.

Would it be a smart idea to use the $$ as a down payment on a new car or house, etc.?

Later

Mizeree_X

iTrader: (9)

I paid for college with my student loans

Sprint

iTrader: (10)

isa neva bin to collge sah

MaximaPower

iTrader: (3)

LAME! j/k

i bought my max! i had about 6k saved, put a downpayment on my car.
i rather pay back the free interest loan

Weasel

iTrader: (2)

...rent...

Matt93SE

iTrader: (44)

You could be like me and pay your tuition with it, or you could be like Russ and buy a Sentra, Altima, 2Kse, 2K1SE, Cracura, Jet ski, digi cam, a TRUCK, several computers...

what else has be paid for with student loans?

maximised

lol!


I consistently bought guitar pedals with my extra $$$ from loans each semester. I just hate the idea of all that money I have to pay back!

I don't use student loans right now, though I may get them again just to get the cash and maybe invest in stocks or mutual funds.

To my grantors, that last statement should read, "...invest in higher learning".

Slowpoke

I paid for college. How did you guys save student loan money? The student loans I was given only covered a fraction of my tuition.

Jepht20

iTrader: (10)

same here...

Blu

iTrader: (63)

same here

Sprint

iTrader: (10)

sex

Mustang1999

Yeah, until you graduate and the interest starts piling up.


I wish I could afford to save my student loan money... unfortunately I have to pay for school with my loan money.

Mustang1999

Ew.... thanks a lot for that mental image...

Chris91SE

iTrader: (1)

college

Canuck

I don't need no stinken loans I have a scholarship

Sprint

iTrader: (10)

the canadian goverment is hoping they can have more canadians come back and make a smarter country so they pay for your schooling for free

Canuck

Its actually a scholarship from the Canadian alums from my school, they are a little ****ed that I got a greed card

Iilac

iTrader: (65)

I usually take the grants and decline the loans. The grants are enough for me.

Slowpoke

I had grants as well as loans, and they still barely covered half of my total tution + room/board.

Student loan payments suck.. If I didn't have to make payments every month, I could be driving around in a new 330i instead of a 97 maxima.

AKAICEBERG

Well I don't go to know high class ritzy school. I attend Florida International University here in Miami, which is quickly becoming a highly acreditted school. Plus they have one of the best education programs in the nation, which is what I'm majoring in.

My grant pretty much cover my cost of tuition. I actually got some of that free $$ back during my freshman and sophmore year, which helped to pay for books and beer . We now have a football team, which raised the tuition quite a bit, so some of my loan $$ is taken from me, but a huge chunk of it goes to me each semester. I believe my loans are set at 5% interest, which is damn good imho. I also plan on filing an extension so I won't have to start paying the loans back until a year after I graduate.

Later

Cumalot

iTrader: (8)

I didn't get enough grant, so I had to accept the loan too. With the extra that left after paying for the tuition/books, I used the rest to buy new wheels! I know, I know, not good...but I'm almost done with school anyway. This is my first time accepting a student loan btw.

Slowpoke

You are lucky. The way grants at our school were figured out was they took the difference between tuition and what you can pay. The second amount included out-of-pocket money and student loans. So if tuition was $25,000, and you could pay $10,000 out of your pocket, and got $5,000 in loans, your grant was 25k - (10k+5k) = $10,000. If you had a scholarship, I believe they just gave you a smaller loan.

y sleep

My medical education, (undergrad was free) and a few vacations.
I finished school with over $80,000 plus interest in loans. All payed off now. That's part of the reason I drive a Max and not a MB. If you have extra cash put down for house not for a car if you can. The house may appreciate faster than your interest, the car never will.

lophix

iTrader: (3)

thank you daddy for paying international rate tuition and dorm fees while i sit here on my skinny a$$, ho-ing on maxima.org instead of studying. I am jobless: will work for mods.

AKAICEBERG

Slowpoke: My total tuition for this semester, which is increased because of our newly aquired football team came to around $1200 for 13 credit hours. As you can see I'm not paying private university tuition, which is a god sent. My grant was for $800, so obviously they had to take some from my loans. Ijust started my senior year and I basically have all the loan $$ saved up. Its also hard to tell how much is actually loans because my work income is also mixed in there. I asked the ? because I not sure whether I should just pay all the $$ back once I graduate and get rid of the problem or use the $$ for something important and meaningfull being that its such a low interest rate. I have friend that are paying like $50/month on their student loans.

y sleep: thats some good advice. A house would be a wiser choice being that I will probably leave the Miami or maybe even the state to work.

Later

Blaxxxima

iTrader: (1)

My wife and I pay $4700 a month in student loans (line of credit, federal and provincial loans). She had about $150K in loans..

mind you, she's a dentist, so we can pay it off, but everything's relative.

"Honey, daddy needs a new mod for his car!"


Oh, and Sprint: you pay for sex? A guy like you I thought would be getting paid for sex

Mike

lophix

iTrader: (3)

for real! i mean we all thought he would be a male h... never mind.

Frank Fontaine

I'm not understanding how a student loan is taken to get a car, house, etc. Is it one of those gigs where the parents fake being needy and then give their kids a full ride to college? I'm fascinated that some parents are willing to pony up the 1040's and actually in a legal sense commit fraud to benefit their kids. I'm sure they mean well nonetheless. At any rate, if a person doesn't need a loan why take on debt? You can pretty much borrow all you want at 0% now as far as consumer credit, but so what? Eventually it has to be paid off, no?

kingrukus

iTrader: (41)

RodolfoGraziani

hello this is my chance to become an advanced maxima.org member.

So I chose the lamest, dummbest thread I could find.
No offence.

kingrukus

iTrader: (41)

Who are you talking about?

Slowpoke

Ahh I should have gone to public school like you did. It's the best bang for your buck for sure.

By all means use the money for something meaningful and important. My student loan interest is less than 5%, which is a better rate that you'll probably get on a car loan or mortgage. Once you graduate and get your own place, you will need to buy stuff like furniture. Better to use your student loan money with the low 5% interest rate than to charge it to your credit card. So I guess what I'm saying is, use it for something important to get you on your feet once you graduate, but don't blow it on something frivolous.

This all assumes that you will be financially responsible and you won't miss any payments, etc.

Stephen Max

iTrader: (59)

Me too. The best investment for the money, by the way - much, much better than spending it on a car that probably will be in the junkyard in ten to fifteen years. Your education you have the rest of your life.

acMAX

i survived on government grants back when i was in college.

Whatever I spent it on....pretty much went up in smoke

max95q

iTrader: (10)

I work for Sallie Mae so some good advice would be to give it back so you want be owing so much later on. Or buy a car and oh on car payments and your nice fat student loan monthly pmt