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Author Topic: Student loans for other things?  (Read 917 times)

williamgazillion

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Student loans for other things?
« on: June 29, 2005, 10:55:25 AM »
If I end up having some money left over, is it OK to simply put my money in a CD or invest it in some other way?  What are the implications?  Anybody plan on doing this?

maka nani

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Re: Student loans for other things?
« Reply #1 on: June 29, 2005, 10:57:04 AM »
I did it with UG loans...sort of a living expenses emergency fund.  I didn't invest it...just put it in savings. 
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williamgazillion

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Re: Student loans for other things?
« Reply #2 on: June 29, 2005, 11:09:03 AM »
Interesting.  I may end up having $9,000 left over.  I wonder if this will substantially affect my Expected Contribution for the following year.  Any thoughts?

maka nani

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Re: Student loans for other things?
« Reply #3 on: June 29, 2005, 11:09:58 AM »
hmmm, I'll find that out next year when I apply for aid.  Sorry!
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bruin

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Re: Student loans for other things?
« Reply #4 on: June 29, 2005, 11:44:57 PM »
Technically no. But no one will ever find out, or care really.
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InVinoVeritas

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Re: Student loans for other things?
« Reply #5 on: June 29, 2005, 11:51:05 PM »
bruin is right.  you're only supposed to use loan money for school-related expenses (including living expenses), and the amount of you loan is only supposed to be enough to satisfy these expenses.  but, if you have any money left over, why not save it so you don't have to borrow as much for the following year?