Woo Finance: Student Loan Edition
Jul. 11th, 2011 05:08 pmI'd like to spend $6,000 I don't have on school this year. You may have noticed that number doubled since the last time I started talking about money for school. That's because the 29-credit certificate I'm aiming to get will actually take 3 quarters due to prereqs (there are 19 introductory credits you need to take CLA1, which you need to take CLA2). So I figure, as long as I have to take the time, I might as well get a phlebotomy certificate and take extra courses like pharmacology and medical law.
Normally I'd be really, really uncomfortable with the idea of borrowing money, but $6,000 is a small loan. According to the company I'm looking at borrowing from, even if my credit score is poor (which I think it is, considering I haven't done much of anything to build credit) my minimum payments would be less than $100 per month - that is, if I wanted to take 20 months to pay back what I borrowed. I'd probably do it quicker.
The plan, then, would be to take some time off school after this year and focus on working to pay back this money. It wouldn't take that long, even if I only landed a part time job.
Yep... I think this may be a sound plan.
Normally I'd be really, really uncomfortable with the idea of borrowing money, but $6,000 is a small loan. According to the company I'm looking at borrowing from, even if my credit score is poor (which I think it is, considering I haven't done much of anything to build credit) my minimum payments would be less than $100 per month - that is, if I wanted to take 20 months to pay back what I borrowed. I'd probably do it quicker.
The plan, then, would be to take some time off school after this year and focus on working to pay back this money. It wouldn't take that long, even if I only landed a part time job.
Yep... I think this may be a sound plan.