Using Federal Student Loans to Invest in Market
I'm currently a senior at a private university who's parents use a 529 to pay for all of my tuition expenses. I'm going into my last semester this spring and have locked down a $100k+ base-paying job that starts full time in august.
I am wondering if I could possibly take on $10,000 in student loans in addition to the 529 paying all of my college expenses ( the loan is federally backed at low rates hopefully?) that I can then use to invest over the next half year + and eventually retire using the 529 plan.
Thoughts on this? Is it legal to take out student debt and use it to do whatever? How would you recommend I suggest this to my financially illiterate family
A cool thing with federal loans is that you don't even have to repay them
Personally I would do it, but I'm sure some grumpy guy will come in here and wag their finger at you. Fun watching them seethe as you tell them the writing on the wall of Fed student debt having to be forgiven on some level at some point in the future. Inevitable
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