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Waitlist,Financial Aid Question

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Waitlist,Financial Aid Question [#permalink] New post 22 Jun 2007, 16:43
So Im probably an idiot, but here goes:

Ive been accepted to my second choice school, where Ive already paid my deposit. I am still waitlisted at my first choice. I however havent filled out financial aid info at my accepted school, because of the waitlist situation at my first choice. Is it too late for either school?

Another matter that sort of complicates things is that I recently received an inheritance that would allow me to pay for it all without need of loans or financial aid. I am wondering is it better to use that money to pay for school or to invest it and get a loan.

Opinions appreciated!
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Re: Waitlist,Financial Aid Question [#permalink] New post 22 Jun 2007, 18:42
dipeshc4 wrote:
So Im probably an idiot, but here goes:

Ive been accepted to my second choice school, where Ive already paid my deposit. I am still waitlisted at my first choice. I however havent filled out financial aid info at my accepted school, because of the waitlist situation at my first choice. Is it too late for either school?

Another matter that sort of complicates things is that I recently received an inheritance that would allow me to pay for it all without need of loans or financial aid. I am wondering is it better to use that money to pay for school or to invest it and get a loan.

Opinions appreciated!


Oh... I want to be in your situation.

This is what I would do if I were you.

I would get try to get the perkins loan (5% and interest free for about 30 months) and other cheap 6.5% federal loan.
You should be able to get a better return on your $ than this mere 5-6.5% interest. So it would be wise to get these student loan even if you have $ to cover.

(If your inheritance is already reported, i don't think you may get the perkins.. I am not really sure.)

I would pay whatever is not covered by these loans w/ your $.
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 [#permalink] New post 24 Jun 2007, 17:48
not a bad position to be in...

I'm pretty sure you can still apply for financial aid. Check out fafsa.ed.gov.

I agree with died4me. You can take out the student loans, invest your money and get a better return. Also, student loan interest payments are tax deductible! So, it's one of the best loans to have if you're borrowing.
  [#permalink] 24 Jun 2007, 17:48
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