I have a masters education cost of about $15,000 coming up. There is a loan program at 1.75% that would cover most of it.
I have no other debt. I have enough in cash to cover it.
Is it a good idea to take the loan anyway due to the interest being around inflation level? meaning it's basically just an IOU?
EDIT: Here are the rules of the loan:
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I am forced to pay 9% of my salary above $23,500 until the loan is paid off
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Interest is at 1.75%
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If I am unemployed I make no payments
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Any unpaid balance is cancelled after 30 years
Submitted November 17, 2018 at 06:46AM by TechySpecky https://ift.tt/2Ftwf8I
