i need help is about student loans

Discussion in 'Teenage Parenting' started by Hotbump, Jun 8, 2011.

  1. Hotbump

    Hotbump SAHM, student, & wife :)

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    So i got an email saying im going to get a refund check for $2,400 which i will have to pay back once i finish uni but i can also tell them to keep the refund check. I dont know what to do I can use the check to move-out and fix my car and put the rest of the money in a bank account or should i just tell them to keep it? im sooo confused :wacko:
     
  2. vinteenage

    vinteenage Well-Known Member

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    I really don't see how we can answer this for you...that's a personal decision. Do you think you'll be in a place once you graduate to pay it back? Then take the check and pay things off. If you don't think you'll have extra money, best to not take it.
     
  3. Hotbump

    Hotbump SAHM, student, & wife :)

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    the thing is that i do need money to fix my car and im having way too many problems living at my place which interfer with my studies. If i do accept the refund check i'll probably only use about $800 or less depending how much it cost to fix the car the rest i'll put in my bank account. See i obviously think that yeah after college I will have a well paying job but at the same time with this economy nobody knows kwim?q
    The left over loan money i dont know if i can use it toward paying my college loan once i finish college kwim?
     
  4. bbyno1

    bbyno1 Well-Known Member

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    If i was you i would probably take it and use the money i NEEDED on things like fixing your car etc. My main priorities and then put the rest of the money away and not break into it or give it to someone who you trust so you can't spend it so when it comes to paying it back you already have that lump some saved away, and you only need to find a little lump of money
     
  5. AriannasMama

    AriannasMama Guest

    Well if you keep it remember that you will have to pay it back plus interest. I have 2 student loans and have accrued an obscene amount of interest on them both. If you are going to keep it, spend only what you need and return the rest.
     
  6. Hotbump

    Hotbump SAHM, student, & wife :)

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    Most definantly im only going to spend what i need! i just need around 300 to move out and 300 to fix my car which btw is the only car we have. OH paycheck is around 640 and paying bills and everything we only get around $30-$50 left over and once i start working (when i find a job) im saving at least $100 from each check to put in the bank to recover what i took kwim?
     
  7. bbyno1

    bbyno1 Well-Known Member

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    I think that'l put you in a more stable position right now so i would go for it. The car and housing situation seem to be a bit of a problem for you (from your previous posts) so i think it'l ease alot of your stress:)
     

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