Student Loans....

[eb0i]

I applied for Financial Aid back in Spring for the Fall/Winter Semester. Now all I wanted was a bursary and I was granted one. But apparently when you apply for Financial Aid you are automatically applied for a Student Loan. Now I want to cancel my student loan and I don't have a clue how to go about doing so. Can anyone help me here? Also just questions about the loan itself. If I were to apply for it do they give me the money and then I go pay for my courses? Or does it automatically go straight into my tuition fee? Details please. Thanks.

[roopi]

Well if you don't take the loan you won't get the bursary. I imagine it was the Millenium Scholorship/Bursary is what they gave you right? This goes with the loan. If you don't need the loan then just take the loan and put it in a bank account and leave it there until you are finished school. Then just pay the loan back. You might even make a few dollars off of the interest.

The tuition will be deducted from the loan and then you will receive the balance.

[eb0i]

So what happens if I have already paid for my tuition? Will I get to just keep the loan?

[saiyajin]

if u paid ur tuition already still bring it to school to get it signed where they will deduct zero(0) so then u will get all of it sent to u in the mail in a form of a cheque

[roopi]

Originally posted by eb0i
So what happens if I have already paid for my tuition? Will I get to just keep the loan?

Yeah then you just get the entire loan amount. You still need to get is signed by the Finance office before you take the papers to the loan office.

[eb0i]

nice I went today and got it all done. Now I just need something safe to invest in with an okay return. Any suggestions?

[TrevorK]

Originally posted by eb0i
nice I went today and got it all done. Now I just need something safe to invest in with an okay return. Any suggestions?

Anything that's not guarenteed will have some sort of risk.

I'd personally take the small risk, invest in some mutual funds (Income/Bond funds) since they'll do higher returns than a GIC.

However, for no risk just invest in a GIC/bonds.

[Gonthro]

savings account :thumbsup: the safest you can get, besides a safe strapped to your wrist with an AK47 in the other hand :P

[roopi]

You have 2 options that are safe:

1. High Interent Savings Account 2% - @2.25%

2. GIC

[eb0i]

Thanks guys:thumbsup:

[asasa]

Why don't you invest in some 19" rims... that'd be pretty safe and a little more fun then a saving account

[dragon33]

Good call on the rims, :werd: