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I’m starting school in September and I’ll need to apply for a student loan soon. I’ll be going to a university in Ontario, Canada. Anyway, I’m not sure how much to apply for because I have a bunch of scholarship applications still pending approval, so I think I might just apply for the max and use what I need. Now with the Ontario Student Loan Program, OSAP, interest does not start to be computed on he loan until after you are done school and working. So anyway, if I do happen to get all the scholarships I’ll be left with an excess amount of money. What I’d like to do is invest the money in a 3 or 4 year GIC, and then use the interest accumulated on that to help pay off some of the loan sometime in the future. My question is, if I have this money invested, would it inhibit my ability to get another loan the next year? (Because I have to declare my investments.)
Any help would be appreciated.
Any help would be appreciated.