MS1 Tax Refund

[FindingNismo]

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Got a little refund coming my way soon (~$4k) that I'm not sure what to do with. Started MS1 in August, financing tuition with 100% loans @ private school. Tuition is 80k for MS1. Looking for advice for what to do with the refund; thinking about paying down some of the loan interest I've already accrued, putting the whole amount into an IRA, or letting it all ride on bitcoin (/s). Interested to hear thoughts

 

[Trollest]

Did you really go to MSU? Was it your only acceptance?

 

[FindingNismo]

Not MSU, but was my only acceptance

 

[BorntobeDO?]

Got a little refund coming my way soon (~$4k) that I'm not sure what to do with. Started MS1 in August, financing tuition with 100% loans @ private school. Tuition is 80k for MS1. Looking for advice for what to do with the refund; thinking about paying down some of the loan interest I've already accrued, putting the whole amount into an IRA, or letting it all ride on bitcoin (/s). Interested to hear thoughts

Save it for boards and audition rotations. You will probably need it.

 

[ThoracicGuy]

Got a little refund coming my way soon (~$4k) that I'm not sure what to do with. Started MS1 in August, financing tuition with 100% loans @ private school. Tuition is 80k for MS1. Looking for advice for what to do with the refund; thinking about paying down some of the loan interest I've already accrued, putting the whole amount into an IRA, or letting it all ride on bitcoin (/s). Interested to hear thoughts

$4k is a drop in the bucket for $80k yearly loans. That hardly seems worth it. Putting it all on bitcoin is not worthwhile either, as you indicated. So that leaves saving it. I would consider an IRA. It'll certainly have many years to grow and can turn into a bunch more money over that time. As for other saving for things like boards and the like, you could consider putting it into a higher earning savings account, CD, or something similar that gives you quick access to the funds should you need them. If you don't have an emergency fund, you may consider that, though with getting the loans on a semester basis that should give you a bit of wiggle room unless its close to the end of the semester.