Money!!

I had received my assessment for student loans last week and there is something I didn't really understand, but just assumed it wasn't really important (it seemed like an explanation of how they decided on the amount I would get starting in Sept)

well, it wasn't. I checked everything again... and in addition to the money I knew I would get starting in September, they are adjusting my funding for the summer because my income decreased since last year.

I don't fully understand how it all works... but I do understand one thing:

I'm getting $1,000 more than I expected!!



Now what to do with all that money?
Actually, most of it will just go to my savings account... but I think this still calls for a little something special.
Any ideas?

Woo hoo!! Isnt that great when you get unexpected money?? Right now, I could use some!!

I remember you mentioning earlier that loans just weren't there. Go have a drink! or buy yourself something nice...but not too nice! You gotta SAVE some of that money

Originally Posted by lunasmom

I remember you mentioning earlier that loans just weren't there. Go have a drink! or buy yourself something nice...but not too nice!

You gotta SAVE some of that money

Click to expand...

Maybe a small nice, and save the rest for the tougher times

I used to love student loan approval season! It always seemed like free money, but I would use it to catch up on bills, but a new comupter, etc. (BTW, a new computer is always an GREAT investment for a college student!) Now I am having to repay the student loans, and the euphoria is OVER!

Originally Posted by halfpint

Maybe a small nice, and save the rest for the tougher times

Click to expand...

That's the plan!

If things don't go as planned during the year, I'll have that money to fall back on... if not, I'll have some extra by the time I graduate and then I can use for something more expensive (maybe a trip)

That's sweet.

I just got married, so I can finally apply for student loans myself. I will be able to appy for them in the fall.

That's great! I remember you saying you were having trouble, and I'm glad for your unexpected luck! How about a massage or new hair color?

Enjoy a nice dinner ... I am repaying now and the fun doesnt last

I'd say the #1 thing is to remember that the extra $ is a loan that you will have to pay back with interest!

Do a little something to celebrate, sure (e.g. go out for a $20 dinner if you'd like), but otherwise put it in savings and if at all possible, try to pay some of it back during the semester. Remember that every penny in loans, you will have to pay back with interest down the line. It's depressing but it's the truth.

Wooohoo, you should buy a nice outfit or something

Originally Posted by sharky

Enjoy a nice dinner ... I am repaying now and the fun doesnt last

Click to expand...

Me too! I used to love when I got my student loans, until I started paying them back 2 years ago Now, I hate it!

Congratulations on the extra cash, buy yourself something you've wanted for awhile, and stash the rest in the bank!

Save some for books, gas money, lunches, and class fees....sounds boring, but it's stuff you'll definitely need.