Comment Re:Get out of debt (Score 1) 740
I would advise either keeping your "buffer" money earned through your part-time job in a high-interest savings account - some online bank accounts offer up to 5% - or paying down the principal on your loans - or a combination of the two.
Although it's true that you aren't paying interest on your loans now, if you lose your money in a poor investment, you will regret it when you are paying back those loans at 7%. Save the risky invetment plans for when you have a stable income and can afford a little more risk.
Paying down your student loans over time will also improve your credit rating, allowing you to obtain a mortgage after graduation at a much nicer rate than those with bad credit or no credit. The difference between a good and a poor credit rating can mean a 2-3% difference (or more) on your mortgage rate!
Although it's true that you aren't paying interest on your loans now, if you lose your money in a poor investment, you will regret it when you are paying back those loans at 7%. Save the risky invetment plans for when you have a stable income and can afford a little more risk.
Paying down your student loans over time will also improve your credit rating, allowing you to obtain a mortgage after graduation at a much nicer rate than those with bad credit or no credit. The difference between a good and a poor credit rating can mean a 2-3% difference (or more) on your mortgage rate!
