Buying a car with Student Loans?
I am lucky enough to be granted free tuition since my mom served in the military and I come from a low-income household. I am offered around $1,050 each semester in student loans that basically go back into my checking account. I estimated how much indebtness I would be in, and it came out to around 10k-13k.
I am currently premed and am motivated to be going to medical school by the time I graduate in 3 more years.
I figured that my debt is low compared to the average debt (30-40k). Plus, if I am going to medical school, I am already going to need to take out more loans anyway. I KNOW it s terrible thinking and my dad advises me to not even take out loans. I worked Part-time last year and still made Dean s List but it sucks since all I am able to make is like $12/hour and cannot even finance a car without help.
Should I use student loans to help buy a used car? I already work, I am going to be in-debt from medical school, and I just need a boost to finance it so that I can pay it off with the rest of my loans...