Sabrina
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?
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