A little bit of background, I'm a senior that will be graduating in a month. I just accepted a job offer for $67k in Chicago that I start in the fall.
I got a large refund from my school with which I paid off my private school loans and my unsubsidized loans (the ones with interest). I have about $5500 left in subsidized and federal Perkins loans total. I have about $9k left over from my refund.
I also have the opportunity to get an unsecured loan upto $25k at 2.99% APR. I wouldn't have to start making payments until 6 months after graduation.
I have another job for five months this summer and early fall before I start my full time job. I should make about $10k for that. They provide housing so I would need to just buy food.
What are your suggestions to exploit this opportunity? Right now my plan is to put the full $5500 into IRA from my refund but that's just as far as I've gotten
I have a car payment of $225 with insurance at $98 and a phone bill at $50 but those are my only expenses at the moment.
How much should I look at spending on an apartment in Chicago? Do you think I should take out the unsecured loan, pay off my car (lower interest) and put the rest in a mutual fund or something?
Any other suggestions are greatly appreciated!!
Submitted April 13, 2017 at 08:28AM by kodiakly http://ift.tt/2pcDAO2
