Should I use my student loan money on useless/fun stuff, or a buy a house out of foreclosure?
Question:
Should I go broke, buy the house/make the repairs and live off what my fiance and I make (like we are now)? Or spend the money on a much needed new car and a trip to Egypt?
go to egypt after you pay off that loan.
Sounds like your going to spend it one way or another so i'd suggest you buy the house... its a better investment. Be careful though, sometimes college kids go over board with student loans cause it seems like free money at the time. Just make sure you'll be able to pay it back when it comes due. One thing i will warn you about is the interest rate... expect it to skyrocket after a few months or year or so, even if they say it's "fixed"... "can only go up to a certain rate" blah, blah, blah. I've seen student loans go up to 19% before. Be careful with them!
Take advantage of the Student Loan while you're a student. I think you already answered your own question by claiming that the fun stuff was useless stuff versus the house. You already know your priorities. What you really need in life are necessities: food, shelter and clothing. The student loan can help you finance your down payment for shelter for a very low percentage rate. I only hope you used your loan for drinking water, coffee or juice, and not on alcohol. Tsk, tsk. Good Luck
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DO NOT BLOW IT! Talk to some ppl that have student loans and are trying to pay them back. It's very difficult.
If you want to make an investment, great, but I would be really hesitant to suggest blowing it.
Take it from someone who is in the situation and didn't even spend my money on junk. And I have friends who are now in great debt and fighting to get out of it.
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go to www.grandfundingsource.com
and fill out ur info
they'll call you
this is the best way i can help you with. anybody can get money regarless what they wanna do.
what you wanna buy ? cuz you can also get it for free at giveaway
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