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09-08-2010, 03:26 PM
  #49
rt
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Join Date: May 2004
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Quote:
Originally Posted by PhoPhan View Post
Lots of student loans include monies to cover rent and food and stuff. I wouldn't know how to begin looking for one, but I imagine there are loans out there that leave a bit for car payments.
No payments needed. For the year, I'll get 5,550 in grants and 12,500 in loans. Those come in two disbursements. That's 9,025 in the first disbursement(not including the loan origination fee of 1%). As soon as I get the first disbursement(thirty to ninety days), I'll cancel the second disbursement of the loan, but keep the second grant disbursement coming. That will put me in debt 6,250. I'll use the second disbursement of grant money(2,775) to pay back on the loan, and reduce my debt to 3,475. My piece of **** vehicle is worth probably two grand on a trade-in. That gives me something like 11,025 to buy a truck. I can certainly find an acceptable one for 8k. Leaves me 3k to pay back to the lender. Reduces the student loan debt to half a grand-ish. That's subsidized so no interest until six months after I graduate.

Still, it'd be nice to just have credit and be able to buy a car like a normal person. Haha.

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