One small student loan check away...

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... Or don't use it, save it, and use it for what it is intended for.

Unless you have a Pell Grant, Scholarship(s), etc. I would not be using school loans to fund a vehicle/vehicle modifications, but that's just my two cents. Good looking shocks though!
 
Eh - it's $200.

It's relativley insignificant in the grand scheme of college tuition costs.

$200 is like 2 books bought new. Hell I've spent as much as $450 on books for just one class because new edition was required and no used copies available.

If he wanted to spend 1k - well yeah..but $200?
 
Using your school funds to do anything other then emergency repairs to your ride is stupidest thing I have heard all day.
 
agloukhoff said:
Eh - it's $200.

It's relativley insignificant in the grand scheme of college tuition costs.

$200 is like 2 books bought new. Hell I've spent as much as $450 on books for just one class because new edition was required and no used copies available.

If he wanted to spend 1k - well yeah..but $200?
Click to expand...


It really is so easy to lose perspective of the value of a dollar with that mentality. Sure, what's an extra $200 in the grand scheme of things?

That's the exact same mentality that comes into play when buying a house... "Oh, you didn't do a Title Search? Ok, $500 - what's $500 when buying a $250,000 house?" - the reality is, those cost $50 to do yourself. But framing it in that mindset makes it easy to throw away money.

As for the shocks, I'm sure they'll actually cost well north of $1000 once the loan is actually paid off in the year 2030.

-M
 
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mattgold said:
I'm sure it'll actually cost well north of $1000 once it's actually paid off in the year 2040.

-M
Click to expand...

That depends on his loan terms. My college loan interest rate is 1.875%.

It will take quite a bit of time for $200 to turn into 1000 at that rate. You'd need a rate of 6% and ZERO payments on that $200 to turn it into 1k by 2040.

Besides, since he is working, the whole question of how any particular funds are earmarked is a moot point as long as his loans are manageable and will be sustainable after graduation.

I wish that I spent MORE and worked LESS while I was in college. I mean really – I could have had a lot more fun with $200 when I was 20 than I could now.

I'm sure that when all those criticizing him went to college, all they ever did with money was buy books.
 
I just finished spending $20K to take five months of school, for an upgrade to licensing, of which I have already spent tons of money on. I was in class for 8 hours a day, with 3-4 hours of homework a night. Maybe since I used my GI Bill, I felt it in both my best interest, and the taxpayers, that the college money I earned, was used to pay for class, attend class, and pass class. Not party and have a good time. I passed every class, and ended at the top end of the grade scale. It's called buckling down, and getting it done. That pays off, as I have a couple offers well over double what I was making before. I'll be making so much money by the end of the month, I can buy, without interest the next 4Runner in cash after a couple paychecks and all the aftermarket and repairs I need to do.

Look kid, unless your shocks are busted out, and your depending on your ride to haul heavy stuff all over the place, for work, save your money. When your done with classes, and got a good job, buy the shocks you want. I put 270,000 miles on the originals. Stay in class, be on time, don't drink it away, at 33, I'm still having a great time, feel young, and seeing the world. And it ain't costing me a dime in interest.
 
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dude, I did spend alot of my loan money on car parts.....when I needed too.
I also blew alot of it on stupid things. Sometimes I wished I had took the money and invested it in some good stock or some other investments that would had made me some money.

Today I wished I had bought up some AR-15's or AK's. I could double or triple my money in some cases selling in the current gun market.
Fortunately, I'm not to worry about paying back my loans. I will be in good shape financially when I finished up next year. I encourage you to think twice about the purchase of the shocks. It is not an emergency like the tires I had to buy for my wife's car. Hope this helps.
 
Good god.. Can the dude not treat himself to something. You guys are so quick to assume the worse and you don't even know the guy. Get off his ass.
 
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I don't think anyone is judging, being overly critical or demanding action...

I don't think many are even saying they didn't do the same. I'm sharing my perspective looking back on decisions I made and things I've seen. Have I made dumb decisions in the same vein? Sure. Should I have put more away than modify cars? Of course.

But there's nothing wrong with sharing advice from experience. At the end of the day, he's an adult and will be responsible for his decisions.

Sometimes you gotta touch the fire to know it's hot. :flame:
 
This Grinds My Gears......and when the student loan bailouts start (they're coming - mark my words), we will all be paying for his blisteins......somebody always pays......
 
Buckaroo said:
This Grinds My Gears......and when the student loan bailouts start (they're coming - mark my words), we will all be paying for his blisteins......somebody always pays......
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The student loan bailout will be a result of people paying 50k/year over 6 years to get a masters in art history. Not because someone bought a pair of shocks.

The tuition alone in the college I went to was 18k/year when graduated in 2005. Right now?

Tuition $41,500
Fees $2,300
Housing $5,625-$9,570
Meal Plan $5,490-$5,745
Total $54,915-$59,115

That's per YEAR.

So no. It won't be the shocks that are the problem.
 
My last post on this....

I understand that this is not a lot of money but it is the attitude with which I have an issue.

See following excerpt from "Your Federal Student Loans Learn the Basics and Manage Your Debt," published by the US Dept of Education:

What can I use my federal student loan money for?
You may use the money you receive only to pay for education expenses at the school that awarded your loan. Education expenses include such school charges as tuition, room and board, fees, books, supplies, equipment, dependent child care expenses, transportation, and rental or purchase of a personal computer. Talk to someone at the financial aid office at your school if you need more details.

So....does transportation include upgraded shocks?

Also, it is important for the OP to understand that student debt, unlike other debt, cannot be discharged via bankruptcy. So, even if you file bankruptcy, you will still owe the student debt. Ironically, this is what will likely drive the bailout as many folks view this as "free money" and, due their inability to manage their spending, many will sink into a financial quagmire. The government will have to bail them out which just reinforces more irresponsible financial behavior.

Sorry to beat this to death.....it has nothing to do with T4R's.....couldn't help myself....
 
It's all very good to inform him of how to spend his money, all of you defending proper spending and good habits, your spot on, and correct indeed.

However, if he is set on it, it does him no good. Some people squander money and cannot save. If he wants to get them, he will. At that point, we just need to suggest the best "bang for your buck" scenario for him.

The Bilstein 5125 shocks with the eyelet adapters are good but are you installing yourself OP? If not, shop labor costs can hit you below the belt and at that point, I would say save. There is no need to fuel a car building addiction while your loan amounts double, triple, or quadruple for that matter.

Just tend to your financial obligations and shoot for the long term. I guarantee it will all pay off. You will have a "career" with hopefully an office that has a window... preferably facing the parking garage. There you can park your lifted 4runner on the top floor and stare at it from your office. Just don't let that bring down your productivity level, your boss might not enjoy your runner as much as you :D
 
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