I just applied for my first student loan. Over the internet. I only need 800 dollars, but they won't let you borrow less than a grand. Can I just take their thousand dollars and immediately pay them 200 of it back?
Posted by Sonya at November 12, 2003 11:22 AMHooray! You are now on your way to being inundated with credit card offers!
I don't know what your loan plan is, so I can't answer that question (my state and federal student loans didn't even tell me how to send them money until the "repayment process" began after I graduated). If you don't need the money, just stash it in an interest-bearing savings account 'til repayment time.
Posted by: mol at November 12, 2003 12:06 PMWith most student loans you can, you can even start paying it back before you are out of school and actually that is a good way to go, even if all you are paying back is the interest.
Posted by: Cass at November 12, 2003 01:18 PM