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after loan disbursement

Discussion in 'Financial Aid' started by dfk, Jul 25, 2006.

  1. dfk

    dfk Membership Revoked
    Removed 7+ Year Member

    Jul 5, 2006
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    hey all, i just found out today that i was approved for my loan and disbursement will be sometime around august 1st.. it's a rather large amount and i was just wondering what others have done/will do with this money. should i add it to my checking account? or put it into a savings account to help offset my apr? i may run into a problem when i file next yr should i have to claim it.. or just cash it and keep a fat wad of rolled-up hundreds in my pocket? "why yes, it IS a large wad of money in my pants" - (bad humor, i know)

    a friend also just told me i should put it into a money market, make interest, and withdraw as needed-

    anyway, your thoughts appreciated

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