Quote:
Always pay off loans (assuming you are paying non-insignificant interest) rather than have loans as well as floating capital, unless you have some place for it to be used.
Normally the way it works is that you apply for the loan and it disperses to the school, then the school gives you whatever it didn't use. Most of the time it was about 1k per semester. I would always just give that back to the government immediately. That's why I'm only 10k in debt instead of 20.
I can't stand owing people money, so as soon as I can put my BA's to work I'd like to just live in squalid poverty for a year and pay it off asap.
Plus, they don't start collecting or interest until I graduate. I've seen what debt can do. My father had to do chapter whatever reorganization recently. I despise the idea of getting that in debt.
***
Point being! Giving kids money is fantastic
Edited, Sep 4th 2008 7:12am by Pensive