Hi all,
I'm trying to decide to do with my extra Ontario Student Assistance Program (OSAP) money that I finally received for the 2014/15 school year. I can keep my OSAP loans, interest free, until 6 months after I finish school; at which point, I need to pay them back at approximately 7% interest.
Since I didn't receive the money until this month, I've already made it through the whole school year without needing it, and they loaned me more than I expected. I will need some of it for tuition next year, but I have around $4000 that I really won't need.
My question for you all: should I give it back to OSAP so that I don't have to pay it back when I graduate (2017), or invest it now, hope it grows, and pay it back before my loan starts accruing interest?
As an addendum, if you think I should invest it, what are your recommendations? (I live in Ontario, Canada)
Thanks in advance :)