Quote:
Originally Posted by Xist
The surgery cost $1,270 and I am paying interest on the student loans whether or not I use them.
I still have $40,644.93 in checking, having spent $18,555.93 in the month of June, including the last month at my old place, first, last, and the deposit for this place, and all moving expenses.
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If you pay back the loan money you don't need for school you will stop paying interest on that portion of the loan. You don't have to pay back the loan over the full term - you can prepay it to reduce the interest. (Unless you took out really crappy loans that have prepayment penalties).
It sounds like you took out extra loan money and just having it sitting in a checking account likely earning much less than the interest you are paying to hold that money.