My family was a stuff-it-in-the-mattress type and I never took the time to learn about money. I am now 29 and attending medical school this Fall and have never had to manage debt before. Drive the same old honda hand-me-down, always had a job, credit cards paid off every month, etc. I used the Post 9/11 (Ch 33) GI Bill to completely cover my undergrad and have about $100k in a savings account from 6 years of military service and my part time/gap year jobs. I am currently working full-time and put about $1.5k away per month into a simple savings account after rent/bills. No debt at this time. I have half of my GI Bill left with 100% rating which should cover my housing and bills for about 2 years of school as well as a good chunk of tuition.
Should I put the savings I have in a HYSA or other safe, interest earning account and take out loans for the entire cost of school with a plan to pay most of or all of the loans off with a large payment once I'm in residency? Or is this stupid and should I pay tuition up front with my savings until I'm out and take out loans later on?
Thank you in advance.
Submitted February 26, 2024 at 11:38PM by anonymous-playtpus32 https://ift.tt/FTsa6zn
