mickeymouse
|
Cd's are the surest way to go, provided you can ladder them so that money will mature on time to pay for your next educational tab. www.bankrate.com is one of the best sites to find out about CD rates. Just follow the tabs.
You are smart to think of something besides just letting it sit in savings. I'm assuming that all the money (eventually) will be used for your education. Use the interest as well for your education. Good Luck! |
|
az
 |
You will have to pay back your loans after school w/ Interest, if you don't need the money Decline it!
You are allowed to take out an extra amount for "living expanses" or books but trust me it's not a good idea to take out any more than you absolutely need.
If you need any money beyond tuition and a few hundred for books, get a job!
Good Luck, and I'm not sure about the legality of what you are suggesting so watch out...tax time will come and you will have to explain where this extra money came from. |
|
john b
 |
go to the casino and bet everything on red or bblack at roulette table:)) |
|
jim23870
 |
go on holiday |
|
mrshunter_2002
|
Cd's are paying the most intrest. The term can range from 1 month to 5 yrs |
|
Venuscarroll
 |
If you don't need the money than you shouldn't take out the loans.
You're going to have to pay for it later on and in a big way.
If you can afford to simply invest your student loan money then you don't need it- period. |
|
msoexpert
 |
First of all, student loan money must be used to pay for educational expenses such as tuition, room & board, books, etc. If you're getting more money than you need, then I would definitely suggest putting it into something that's absolutely safe!
The last thing you want is to put that money into stocks, the stock falls, and you don't have enough to repay the loan. What's the safest investment of all? Treasuries and CDs. If you go the Treasury route, I would suggest T-bills, which have maturities up to 1 year.
Bottom-line, put that money into something that's 100% safe. But honestly, you won't make all that much with short-term investments, so you probably won't earn enough in interest to pay rent, but you'll make something. |
|
crystaljourneys
|
You should sit down with your bank's customer service and explore all the options they have available. |
|
scuazmooq
|
Kitten is right. |
|
robpaolillo
|
The timing is so short in your investment your best bet is to just keep in your savings account. You can move it to a CD but will have to pay a surcharge and will cause yourself some extra work and lock up your money for very little return. |
|
indystoprealtor
|
I think CD's are a great short term risk free investment. Especially for someone without a lot of experience. Visit the site below as it's a national site and very well respected.
http://www.bankrate.com/brm/rate/deposits_home.asp |
|
jmdavis333
|
you eventually have to pay this money back so why are you investing it if you don't need it, send the check back or destroy it. That way instead of owing 22,000 at the end of college you only owe 20,000 (just pulling figures) |
|
Curious Stranger
|
CDs is a good idea |
|
shoegodess
|
I have a novel idea, SCHOOL. |
|
cjones1303
|
Can your lender dole out the loan proceeds on a monthly basis so you're not paying interest on it?
If you're getting it all up front, ask your landlord if he will take a slightly reduced amount up front for the rent for the whole school year. Say a 6-7% reduction of the total amount might be reasonable. That's a better rate than you can get on short-term retail CD's. I just checked that with the guy who sits across from me who sells them all day. The other expenses, food, living expenses, etc., could be deposited into a student savings account and then withdrawn when you need it. Discipline is the key word here. Check with the local banks to find one that does not charge you fees to open and maintain a student savings account with small balances. The fees can eat up your savings quickly and must be avoided. A part-time job helps in this regard, too. |
|
kittensharpclaws
 |
invest it in school. Isn't that the point of the money?! |
|
magsy
|
Er, yes! On your bloody education. Doing anything else with it is stealing and a criminal offence. You're reported. |
|
andrew f
|
Read the book "Common Stocks and Uncommon Profits" by Philip Fisher, for the answer. |
|
Tones
 |
In education? |
|
Ryan
|
I think that is a very good plan and you should think of what job you would like so you can pla ahead for the stuff so you know what you are going to spend your money on |
|
Dr. Linder
 |
how about investing in an education? |
|
Gustove
|
lock it in bonds there safe and and bye the time you out of school it should be good but talk to a banker |
|
knhjlhbms
|
give it to me, i'll save it for you |
|
snowdzine
|
Student loan money is for school - pay for your education |
|
acga .
|
Real Estate
By the time you get out of school, the money that you borrowed would be worth less.
Buy anything, a little condo that you can share with roommates, or land in Arizona or Utah or even better, land in Mexico.
I bought land in Baja in late 2003 for 10 grand and so far its value is 40,000. You gotta be careful where you buy though, study the market, do your homework. |
|
| |
|
Homepage 
Financial
Forum 
Investing 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
