REVscene Automotive Forum

REVscene Automotive Forum (https://www.revscene.net/forums/)
-   Campus Forum (https://www.revscene.net/forums/campus-forum_20/)
-   -   Student loan question (https://www.revscene.net/forums/612947-student-loan-question.html)

mowontech 04-26-2010 02:26 PM

Student loan question
 
Hi I just have a question to ask.
If i applied for interest free status for my student loan, does it mean there will be no interest added if I pay everything back before my school end period even if I don't recieve a loan from now on?
Thanks in advance!

taylor192 04-26-2010 02:43 PM

Here's a tip I wish I had learned prior to paying off my student loans.

Student loan interest is low, and tax deductible effectively making it even lower. Instead of paying it off, take the money you would have used to pay it off and invest it instead. For instance, your loan is probably ~4% and some of the interest is tax deductible, meanwhile there are dividend investments that will make you 6%+ and can be held in your TFSA to be tax advantaged.

mowontech 04-26-2010 03:21 PM

hmm thats a really good tip...
I only got about 8g to pay back maybe I'll think on doing that with it. If you can, can you give me a bit more details on it? like who i should go talk to and stuff... I'm not familiar with investments. Thanks!


All times are GMT -8. The time now is 08:13 AM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net