So I'm probably getting a Pell Grant of close to 6,000 dollars. Now...

So I'm probably getting a Pell Grant of close to 6,000 dollars. Now, I've already applied for my loans and shit since my tuition and books are about 20k a year or so. So what should I spend the money that I don't have to pay back on? Give me some ideas.

Bump

Pay off 6k of student loans.

A lot of drugs, it's college. If you don't have a fear and loathing suitcase you're doing it wrong.

Haven't taken the loans out yet since it's my freshman year. And no I'm not 18, I'm 25.

I was thinking like either getting my car customized a little bit or getting a really nice gaming pc. Or a watch.

I don't really do drugs besides clonazepam and shit. And I've got plenty of those

Look into etizolam, shits cheap af, not scheduled in the US, and I like it over all the other benzos.

What does age have to do with anything? Buying unnecessary shit while your debt piles up around you is just dumb.

I'd rather have 6k less debt instantly. Or invest it in something with higher returns than the interest on your loans.

You're a fucking moron. That's just plain and simple. You don't understand how debt works. You don't use money that you DON'T HAVE TO PAY BACK and throw it at money that you do. That's like using one credit card to pay off another credit card. Are you legit retarded? I know you may think you know what you're talking about but you really don't. At all.

I'm going to a pretty pricey university in Virginia and either way, I'll be taking out around 20k a year in student loans so if they wanna give me 6k to blow, I've fucking earned it. Pic related: you.

>nigga acting like 6k is a lot of money
boy, bye. I spent 10 grand in one day.

Nigga are you retarded that's exactly how you pay off debt.

No, you absolutely use money you don't have to pay back to cancel out money that you do. It's not like paying a credit card with a credit card, it's like PAYING OFF THE DAMN CREDIT CARD.

That's not how you pay off debt. You don't accrue more debt in the process. A Federal Pell Grant is something given that's pretty much need based. You could buy anything under the sun that is legal and not have to tell anyone about it. Now subsidized and unsubsidized loans are different. It's not like I plan on taking my student loan and buying a fucking new car.

>You don't use money that you DON'T HAVE TO PAY BACK and throw it at money that you do. That's like using one credit card to pay off another credit card

So I shouldn't use my debit card to pay off my credit card?

>user blow the 6k on paying your loans
>but I'm going to be getting...
>YOUR FUCKING RETARDED PAY THE LOANS WITH THE GRANT, YOU RETARD
>uhh what

You don't have "money you don't have to pay back" fuckstick.

You could have -20,000 dollars OR...
You could have -14,000

Enjoy you eternity of shitty credit and endless debt because you'd rather be a consumer whore.

I'm in college, I'm aware what it is. I used mine on a computer and saved the rest. I have no loans because of scholarships. I'd say save most of it and use 1k for living off of, but we also have entirely different situations I'd imagine. If I had loans I'd be saving as much as possible, full jew mode.

>spotted the moron who went to community college and is buttmad that he never got a grant or a loan to pay anything.

A grant ISN'T FUCKING DEBT. Same as a scholarship ISN'T FUCKING DEBT. It's for you to do WHATEVER the FUCK you want to with. I could go to Mexico and snort coke off a hookers ass if I wanted to. Who would be stopping me? You wanna know why it's not debt? A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances.

I'm a student at a college where it's nearly 21,000 per

You should use the 6K to pay down the 20K. Decrease the amount of interest accruing on the loans. If you don't, you may find yourself in a position where you have to get a forbearance on your loans. That interest gets capitalized (added to the principal) and increases even further the amount of interest you pay on the 20K. You may think tricking out your car or having a Fear and Loathing suitcase is great now, but in ten years you'll be kicking yourself.

I know a Pell grant isn't debt. But a 20k loan is debt. And the smart move is to PAY DOWN YOUR DEBT. So you take the Pell and you pay off part of the loan so you can shave literal years and tons of interest off paying it down later.

*per year. I HAVE to take out loans. I HAVE to scrape up everything they give me and I'll probably be moving down there next semester or so since where I live sucks.

Stop samefagging and shitposting up my thread. Out, kid.

You aren't understanding that a good use of the money would be getting out of debt from the loans. That's what he's trying to say. Pell grants are free money, so yeah you can do whatever the fuck you want with it. Getting out of debt is priority number one for most.

Well, 3 of those were me but the rest are just people with good fiscal sense.

Everyone has some fucking debt in their lives. If I have to take some goddamned debt to get out of the shitty situation I'm in now and graduate with a BS in Business Administration-Finance, I'll fucking do it. Fucking Americans are so goddamned afraid of debt yet every single person I know has a shitload of it.

Before I even start fucking classes? You sound like you slept through econ 101.

ITT: OP gets actual good advice and doesn't listen
Time for some new rims!

Do the math here, big shot.

Fuck off if you think I'm samefagging. This is solid advice from someone who's been there and did exactly what you're thinking of doing. (You should use the 6K to pay down the 20K. Decrease the amount of interest accruing on the loans. If you don't, you may find yourself in a position where you have to get a forbearance on your loans. That interest gets capitalized (added to the principal) and increases even further the amount of interest you pay on the 20K. You may think tricking out your car or having a Fear and Loathing suitcase is great now, but in ten years you'll be kicking yourself.)

Fuck you nigger, 37yo here and never been in debt a penny

What is so hard to understand that being in debt is not a good thing? Do you not realize how many irresponsible people get fucked by student loans and debt daily? You sound like the one who needs econ.

You likely went to a school that is so insignificant, it doesn't even matter to mention it. You can't decrease the fucking amount of interest on the loan. You just cannot fucking do that. You wanna do the math for me, dumbass? Since you know every fucking thing?

Whut
Also, you're a fucking idiot, enjoy the new rims

And you don't have shit to show for yourself.

>being in debt isn't good user
What's next? College is a meme?

Who said I was buying rims? Not a nigger, you fucking cuck.

ITT: /biz/ comes to Sup Forums and spergs the whole thread saying that OP should invest in some memecoin with his Pell Grant.

$400k house in a white neighborhood.
Wouldn't call that nothing.

With probably two mortgages

So just lowering it then?

You obviously already have your mind made up. Enjoy living the American dream of paying off debt well into your retirement years. BTW, Hillsdale College isn't exactly insignificant.

I'm going to college for a trade, going to be debt free and enjoying a career in a year. What about you faggot?

Zero.
I said I have no debt you illiterate jackass

Also, what part of "I have no payments to make until graduation" do none of you fucking autists understand? Federal loans have a six month grace period anyway. It's like none of you ever even went to college. Jesus Fucking Christ.

You misspelled Liberty University.

Enjoy breaking your back and going on disability at 35 while I pay your SSDI with my taxes, you bum.

I'm going to a college with a 21% acceptance rate. I feel pretty fucking smug right now.

I doubt that.

At least your car is gonna look sweet

Oh I'm sorry, I thought you were talking about MY school. What the fuck is Hillsdale? Sounds terrible. How selective is it? It says it's the 10th most conservative college. Well mine's like 1st or in the top 5.

What part of minimizing debt do you not understand? Having the slightest amount of foresight would help you m8.

...

Yeah it should. Probably going to get it wrapped. Or pay off my credit cards like a smart person would.

Shut up, bong.

Doubt all you like.
I pay property taxes, HOA fees,and utilities.
That's it.
Still drive my beater car I've had since I was 25, and I don't spend frivolously.
I've always paid everything off in cash.

>when your school is so nice, you think it's fake.

I didn't realize this was a Conservative dick measuring contest. You should go ask your girl's bull how you measure up.

You only got in because you're some kind of spic or something.

Trips of truth.

J/k, you're literally retarded. If you're lucky one of your financial classes will teach you why...

So the fuck have I. Your point is? Bought my first two vehicles (a total of about 20k) cash. Is this a pissing contest now?

Do what I do. Use that money for emergencies or to pay for summer classes when needed

Lol aww, do you go to some liberal college in some nigger infested area?

Still have to pay taxes on any money you pocket from a grant. So if you blow it and dont have a job theres money you owe back in taxes. If you blow it but have a job say bye bye to your income tax. Just pay off your debt you idiot

Liberty is a conservative Christian university. I doubt spics would even apply to go there. They'd be afraid of getting lynched in Lynchburg.

Buy a gun. When racewar starts you going to need it.

Nah, I'll be straight. I already am getting the max in Pell Grants so I can't wait to see what they give my poor ass in loans. I should have enough to be set for a while.

I thought you actually did a little research with your last post. Guess Google is too complicated.

Invest it in something that will have a high rate of return. look for something with 6-8% APY. I made the mistake of pissing away my pell grant money freshmen and sophomore year and am kicking myself now that I am out. Granted I only took on 8k worth of debt but if I had been more frugal that would have been 0k worth of debt.

I don't think I have any summer classes yet but I'm not 100% sure. I'll probably just fix some things on my car since it's got over 100k miles on it and pay my CC's down. I'm not that fucking stupid.

I actually don't.

Dude that's a good fucking idea. I'm getting a Glock. That's it. You decided for me.

Like what? a fucking REIT?

You must be a nigger. Lurn 2 fynance

I'll dumb it down for you:
Not everyone is in debt like said
You don't have to go in debt to get things you like, just work hard and save. It's very nice coming home from my 30 hour a week job to a home that I own.
That's the "point"

Your school's acceptance rate is 50 percent. Let that sink in. 50 fucking percent. The odds of someone getting in are 1 in 2.

Alright then. I've got about 2k or so in credit card debt. Should I wipe that shit out completely?

Maybe, I have an acorns account from my Senior year in college. In one year on the moderate aggression model I was able to make 8.5% ROI. Granted most of this is strategic investing, dumping money in during brexit, and after the election so there is a bit of a bump. I now have 2.5K in acorns with a 200$ ROI. Its not much but when I buy a house it'll help

Also while I wouldn't recommend it, I was able to make a 50% ROI by buying ETH at the right time.

Do you want to buy me some games perhaps?

That is an intelligent and well thought out idea.
Put the rest in savings and don't touch it unless its an emergency
Or invest in a medium to high risk mutual fund with a reputable broker and let it grow.

When you set up your 401K, remember these sage words. Don't ever put all of your money in a monetary fund. My roommate did this for a year and made nothing. He swapped his money over to a more balanced fund and made 200$ in a month.

I had Acorns before and I have Robinhood now. Made some money off of Robinhood but not enough to retire on or anything.

Just pirate them.

Well if in the event that I move to Virginia long term, I want to at the very least have good enough credit to get myself a place without having someone co-signing. And what about a money-market?

I cant pirate csgo

Fyi this shit's supposed to go towards school'ish stuff.

Tuition, books, car repairs, fuel, rent, utilities, etc. If you can say it supports your schoolin, then you're aight.

Get a computer or something. Maybe even build one, and resell it for profit? Hmm?

>The money that I don't have to pay back
Oh, to be young and naive again...

>Pell Grants
>School stuff
Youmustbenew.exe

What's your point? It's not being naive at all. Clearly you didn't read the thread since I'll be 26 in March, kid.

>money market
Honestly don't have much experience with them
Always just put into savings and mutual funds.
Only cashed anything out to pay off large ticket items.
Ask >>/biz/ maybe?

Right!

You people are stupid. When the feds give you a pell grant it is automatically used in your tuition. They aren't going to just give you X amount of money let's say $5,000 to blow for fun. If your tuition is $15,000 a year and you're awarded $20,000 because you were given a $5,000 Pell Grant, they aren't going to give you $5,000 to spend.. especially since that is going to be interest-free... They automatically use that $5,000 in grant money off your tuition so you are using loan money that has a 5 to 8% interest,(federally, that you have to pay back. So in thinking you were awarded this money and you can spend it free of charge is Just an Illusion you're still having to pay back loan money regardless of the situation.
If I were OP. Id take half that grant money and put it into a savings account and then when You graduate youll have a buffer that will allow you to find a place when you find a job or use it to pay back your loans at first instead of dipping into your personal accts

Participating institutions either credit the Federal Pell Grant funds to the student's school account, pay the student directly (usually by check) or combine these methods. Students must be paid at least once per term (semester, trimester, or quarter); schools that do not use formally defined terms must pay the student at least twice per academic year.