First Day of Law School - Second Year, Term 2.
Well, I'm halfway through law school now... so that itself is pretty exciting! And I got three awards this year, totaling about $7,200.
This means that overall, my projected surplus/shortfall for the year is:
Overall additional debt for this year = $7,000 OSAP
Overall savings for this year = $2,000*
Shortfall = $7,000-2,000 = $5,000 debt
Not bad considering law school is costing me about $25,000 per year :)
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*rather than paying down my Professional Student LOC or putting my savings towards OSAP, I've decided that, given the low interest rate on my PLOC (3.5%) and the no interest status on my OSAP, I should put the $2,000 in savings into a mutual fund account to use as an after-graduation emergency fund in case there is a delay in finding a job. I figure this is the best idea considering the recession and the fact that I don't want to default on my loans. If by chance I do find a job right after graduation, I will roll those savings and any additional savings towards my highest interest debt: the OSAP. Anyone think this is a bad idea?
Well, I'm halfway through law school now... so that itself is pretty exciting! And I got three awards this year, totaling about $7,200.
This means that overall, my projected surplus/shortfall for the year is:
Overall additional debt for this year = $7,000 OSAP
Overall savings for this year = $2,000*
Shortfall = $7,000-2,000 = $5,000 debt
Not bad considering law school is costing me about $25,000 per year :)
----
*rather than paying down my Professional Student LOC or putting my savings towards OSAP, I've decided that, given the low interest rate on my PLOC (3.5%) and the no interest status on my OSAP, I should put the $2,000 in savings into a mutual fund account to use as an after-graduation emergency fund in case there is a delay in finding a job. I figure this is the best idea considering the recession and the fact that I don't want to default on my loans. If by chance I do find a job right after graduation, I will roll those savings and any additional savings towards my highest interest debt: the OSAP. Anyone think this is a bad idea?
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