I’m currently 22 and planning to graduate this December with a Bachelor’s in Comp Sci. I have no doubt in being able to find a job that lines up for post graduation, and the further along I have gone in my degree I have gained scholarships to more than pay for my current tuition.
I still have loans though from Freshman and sophomore year. I have already paid off about $6,000 for all the unsubsidized loans I had.
So the only loan I currently have is a subsidized loan with Sallie Mae for $11,750 with rates between 3.5% – 5.3%.
I have saved up so far about $6,000 and it is earmarked to be used to pay off the loan for after I graduate. I hope to have enough by the time I graduate that I have no debt upon graduation. Tuition for this Fall is covered and I may even get a bit of my living expenses covered as well.
My question is: What should I do with the money in the mean time? Currently I’m keeping it in case of a rainy day or moving expenses for my future job wherever that might be, and since the loan is subsidized, I’m not losing anything by keeping it in the bank instead of paying it off.
At the same time I’m a little cautious about trying to invest it at a time that I don’t have any regular investing scheme and would only be a short term investment.
switch2richnow 