<p>My grandparents gave me $7000 for college expenses but I already have enough financial aid to cover my expenses. How should I invest the money where I can get the greatest return? I am pretty inexperienced in this area, please give your suggestions and advice.</p>
<p>What do you mean enough fin aid? Are you talking in terms of scholarships or loans? If you have loans, then your best best is to pay off w/e you can of college with that money. Interest rates are high right now, and college loans are expensive. You wouldn't make that great of a return in a CD, Money Market, or even the stock market (as of now) as you would avoiding interest on student loans.</p>
<p>I don't have loans, I got a merit scholarship.</p>
<p>If your grandparents gave you money for college and you have enough then you should tell them that.</p>
<p>Although, since they're grandparents, they'll probably let you spend it on whatever you want. lol.</p>
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How should I invest the money where I can get the greatest return? I am pretty inexperienced in this area, please give your suggestions and advice.
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<p>it depends...are you employed?</p>
<p>No, I am a college student. I am not working now. Should I invest it in a certificate of deposit?</p>
<p>put it in a money market if you might need it soon or a mutual fund if you dont need it soon</p>