I am going into Grad school; What is the best way to invest my money to help pay off the debt when I am done?

Question

The program is at the doctorate level and is about 5yrs (approx. $100,000 total). I would like to be able to reduce my debt by the time i get out but likely will have only about 20,000 to invest

Answer 1

While in graduate school, try to avoid accruing as much debt in the first place. You could possibly get a TA position or an RA position or even a part-time job that will help you to pay your tuition.

As for investment advice, you should get help from a professional financial advisor. You get what you pay for on Yahoo! Answers.

Answer 2

Interesting. I would sorely like to know what school you are working at and in what field, but I'll try to give some generalized advice.

I assume that you are not in economics, my field, or you would not have asked the question. I assume also that you know that you are committing yourself to a career in academe by pursuing the union card, as surely as you would be committed to a military career if you chose to flush out your terminal degree at West Point.

Well then. $100,000 is not a lot of money and $20,000 is even less. How did you arrive at these figures? I ask, because I am suggesting that you use the math that you have certainly obtained by doing the heavy lifting along The Way, in constructing an amortization schedule (amortization programs are all over the net) and to do a few simple scenarios until you get the hang of it. It shouldn't take you more than a weekend. The answer will dawn on you.

As always, it is a wonderful time to be a doctoral candidate in America, and I envy you your task. Good luck, godspeed, and all of that from an old, but friendly, Stanford Scholar.

http://www.bankrate.com/gookeyword/rate/college_home.asp

Answer 3

i'm sorry, yet once you're making 65k at age 29 and have 10k saved up... you're a good distance in the back of. Your time-honored of residing will drop a great deal once you become old and retire except you ramp up making an investment rapid. shares are down, would be for a on a similar time as. that is a stable time to capture up. i do no longer the place your money is going. yet, while you're 29 with out infants or family individuals to assist, you could have the skill to pay off that mastercard rapid. THEN ramp up decrease value fees/investments. ideally - i are conscious of it relies upon what professional you have - yet, by age 30 you choose the equivalent of a million years of earnings saved/invested for retirement. you're way in the back of.

Answer 4

This isn't your typical investment advice, but I can tell you how I did it.

My grandmother passed during my first semester of school and left each of her grandchildren $10,000 from her half of the estate.

I used half as a down payment on a new, 3 bedroom/3 bath condo, on the bus route near campus, which housed me and 5 roommates, for $85,000. I bought a washer/dryer and common area furnishings with the rest. Rent per roommate was $425 and each were responsible for 1/6th of the utilities, payable separately, but directly to me, to avoid service interruptions.

Each roommate paid for their own food, phone [most had cell phones] and internet, unless they coordinated sharing of some of those costs with the person they shared a room with. All housemates had full use of all common areas, including the kitchen and washer/dryer.

It was a pretty good deal for all involved.

Out of the $2025 I collected in rent, I paid for my mortgage, reduced homeowners insurance through the home owner's association, my own utilities, groceries, misc. expenses and books [per semester]. I also worked part time.

After I graduated, I moved home and sold the place within 3 months for $107,000.

My only regret is that I didn't hang onto it for a bit longer. I could easily have rented it for $2000 per month, even with only 1 person per room.

Its an option! Best wishes to you and good luck!

Answer 5

dont worry about investing right now worry about paying your debt off first and foremost

Answer 6

start a small drug ring with mushrooms and pot...youll scrape up 5 times as much as you need.


this is the easiest way and best way..thats what you asked for right