student loans not needed for new college?
I am transferring from a 25,000 dollar a year school to a 5,000 dollar a year school. I have several loans for the $25,000 one but I wont need them for my new school. Am I going to have to start paying them off now instead of after 4 years? I dont know how I would start paying off these huge loans if Im still going to school and I wont have a well paying career yet.
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As long as you are a student you don’t have to start paying them off. Did you already spend all the money? if not Invest some of it in a CD or money market they are paying 4.5% – 5 if you shop around make the money work for you!!!
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I am assuming these are student loans and not private loans. As long as you are enrolled full time in an accredited institution, your arent liable to pay your loans until you graduate. And even then, you can defer with all the right paperwork – altho I dont recommend this. good luck.
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a friend of mine- took out the loan and put it straight into a high interest bank account – could work for u?.
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