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Started By
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Student Loan advice
Posted on 2/21/10 at 3:47 pm
Posted on 2/21/10 at 3:47 pm
I should be through with school after the summer
I'll have to pay my rent and living for the summer through August....
I haven't taken out any loans for undergrad or now grad(MS in Acct) but I'm gonna be running a little dry come this May...instead of asking my parents for money (1-2 grand probably) I was thinking about taking out a small b/c I figured it'd be a chance to improve my credit and wouldn't be that burdensome
whats the smart move here? ask parents or possible student loan?
I'll have to pay my rent and living for the summer through August....
I haven't taken out any loans for undergrad or now grad(MS in Acct) but I'm gonna be running a little dry come this May...instead of asking my parents for money (1-2 grand probably) I was thinking about taking out a small b/c I figured it'd be a chance to improve my credit and wouldn't be that burdensome
whats the smart move here? ask parents or possible student loan?
5
Posted on 2/21/10 at 4:04 pm to HDTigers
quote:
MS in Acct)
Mmmm. Nice .. maybe negotiate a signing bonus with your new employer?
Or borrow from your parents, but pay them the interest you would have paid the bank. It'll actually be a better return than they currently get ... Pay em in cash and there could be positive tax ramifications for them .. but you knew that ..
I'd avoid the student loan trap.
Posted on 2/21/10 at 4:34 pm to Fat Man
I would disagree. If you have made it this far without your parents that is pretty impressive. Just take out the small student loan and pay it back when you get a job.
Posted on 2/21/10 at 4:37 pm to HDTigers
Of course the best bet would be a zero interest loan from your parents if you can. Student loans won't affect your credit by a large amount anyway, as long as you have a credit card and a bank account.
Posted on 2/21/10 at 4:45 pm to I Love Bama
quote:
I would disagree. If you have made it this far without your parents that is pretty impressive. Just take out the small student loan and pay it back when you get a job.
they didn't have to help me through undergrad but they have helped me so far through grad school
Posted on 2/21/10 at 4:45 pm to seawolf06
quote:no credit card...only debit
as long as you have a credit card and a bank account.
Posted on 2/21/10 at 5:17 pm to HDTigers
Obviously a zero percent loan from the parents (or an outright gift) is the way to go. You'll have plenty of opportunities to build a credit record, no need to pay interest to someone if you don't have to.
If you do get a loan though, a student loan is usually a helluva deal because the government guarantees it, so the banks offer better terms than they otherwise might.
If you do get a loan though, a student loan is usually a helluva deal because the government guarantees it, so the banks offer better terms than they otherwise might.
Posted on 2/21/10 at 7:53 pm to I Love Bama
quote:
If you have made it this far without your parents that is pretty impressive.
If you're paying interest to the parents at a reasonable market rate, then yea, they're helping, but it ain't charity. Assuming the parents have cash on hand, pay them the interest instead of the Bank.
Posted on 2/22/10 at 11:24 am to HDTigers
Get a student loan and pay it back in reasonable time. It'll help with your credit score, and I know thats one of the only ways my sister was able to get a good credit score upon graduating college.
Posted on 2/23/10 at 7:26 pm to HDTigers
get a job using your BS in accounting first. then use the money to pay for the MS later.
Posted on 2/23/10 at 9:14 pm to Fat Man
quote:
If you're paying interest to the parents at a reasonable market rate, then yea, they're helping, but it ain't charity. Assuming the parents have cash on hand, pay them the interest instead of the Bank.
I've borrowed money from my dad's HELOC more than once now...paid him the appropriate interest.
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