| Dental school loans.. pay my way or take the loan |
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root of evil
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| Dental school loans.. pay my way or take the loan |
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I will be attending dental school this fall and had some financial questions. My tuition costs alone will hover around 200-250k for 4 years. I have an inheritance and have around 300k set aside. So my question is should I exhaust my savings paying for dental school and take on small loans for living expenses or should I accept the student loans and live on my savings while in school(zero time for work)? I would use what is left over to help me get started with my life after school and after graduating should I use the left over savings plus my income to pay them off as fast as possible?
I am also unsure what to do about my living situation whether to rent vs buy but that is a little more specific.
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Sat Jan 16, 2010 9:34 pm |
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oldguy
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You may not have the choice - I don't think a person with $300,000 in assets can qualify for a student loan.
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Sat Jan 16, 2010 10:56 pm |
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Cherryl Hanson-Simpson
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My advice is take the small loans and in between look for ways where you can also create passive income. Having debt is not good and so you wouldn't want to leave college with a mountain of debts that will strangle you.
http://blog.financiallysmartonline.com
www.financiallysmartonline.com
http://fsadvice.com
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Mon Jan 18, 2010 2:14 pm |
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Creditnet_com
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Without knowing specifics, I'd consider taking the loans, investing your $300K in safe investments, knowing that you'll use this money to pay back your student loans after graduation. But it really depends on what type of loans you're being offered. Subsidized or unsubsidized? The federal government and some state governments have loan forgiveness programs if you're able to practice for a few years in underserved areas.
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Last edited by Creditnet_com on Tue Jun 01, 2010 3:11 am; edited 1 time in total |
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Tue Feb 23, 2010 3:19 am |
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manageme
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I totally agree with Creditnet_com. You should take the loan and invest your valuable $300K which you can further use to pay off your loan. But before taking any step do all the pertinent research about the loans, interest rates etc.
shef26
http://www.manageme7.com/
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Wed Feb 24, 2010 6:27 am |
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coaster
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If it's a private loan, no problem. Get the loan if you think you can invest the money and earn more on the investment than the loan costs.
HOWEVER.... if we're talking here about government loans, or government-guaranteed, or government interest-paid while the student is in college (I don't know much about the status of student loans these days, or whether this OP can qualify)
..... HOWEVER ....
isn't there some kind of ethical question here accepting taxpayer-financed money so as to be able to invest one's own funds in lieu of using those funds instead to pay for the education?
~Tim~
Eye Candy : Why Whimsy
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Wed Feb 24, 2010 7:46 am |
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Creditnet_com
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You raise a good point. I'd be interested to find out what kind of loans the OP was offered.
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Wed Feb 24, 2010 7:52 am |
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