<p>ok heres the question... For college, starting this fall, would it be a better idea to spend the money i have saved(about 10k) on paying my whole university bill(about 5200) or taking out a loan of about 4k, paying the rest and using the rest of my saved money to pay expenses and use in case i want to do something special(i.e. study abroad, spring break trip, etc.). No matter which way i decide, during school and maybe the summer I also plan on working a part time job to pay my bills (about $160/month)</p>
<p>What would the interest rate be on the loan and do you have any planned investments with your money or is it just for personal expenses. Do your parents have enough money to cover you if something happens?</p>
<p>2625 of the loan would have interest rate of 6.8% and the other 1375 could have a rate of anywhere from 7-8.5%. My mother just went through a divorce and has 2 other kids to support so she couldnt help if an emergency came up and my grandparents will already be paying about $125/month of my car note, my car insurance, and my laptop payments so they could help in case of emergency but I really wouldnt want to ask them. I dont have any "planned" investments so to say.. but i do expect to maybe do some study abroad and i will definitely be doing at least one internship (the school basically guarantees this).</p>