u/ooothjxooo

After taking the oath, how long does it take after that to get the first paycheck? It’s been 4 weeks for me since swearing in and I still didn’t hear/receive anything. My recruiter is out of office

I recently got the scholarship and there has been a lot of misinformations regarding to this scholarship. Can anyone who is currently or had the scholarship able to dm and answer some of my questions. Would really appreciate it.

I will attend school that cost 110k tuition per year. Interest is about 9% federal and 7% private loan. I was lucky to receive a scholarship where I get paid about 5000$ monthly. Im planning to spend $2500/month toward cost of living and roth ira. The rest $2500 goes to student loan.

From what i understand, when i borrow 110k each year, the school will use that to disburse whatever amount needed to pay off that quarter tuition. Once it disburse, interest starts to accrue from that amount. If i borrow 110k this year, and we have 3 quarters for first year, each quarter is about $37000 due in payment.
Let’s say my fall quarter tuition is 37000, when school disburse that money, interest accrued with that principal 37000. Then winter quarter tuition is 37000, so now interest accrue from 74000 + interest that build up throughout fall quarter.

Would interest accrue less if i borrow 110k and then contribute $2500 toward each month. Or should i borrow less and save 2500$ in cash and contribute all that toward my last quarter payment. Which way accrue less interest?

I’m super new to this, I never borrow student loan before so have no idea how it works and what’s the most efficient way to pay. I’m hoping that by the time i graduate, i only left with 350k instead of 500k

I will attend school that cost 110k tuition per year. Interest is about 9% federal and 7% private loan. I was lucky to receive a scholarship where I get paid about 5000$ monthly. Im planning to spend $2500/month toward my cost of living and roth ira. The rest $2500 goes to student loan.

From what i understand, when i borrow 110k each year, the school will use that to disburse whatever amount needed to pay off that quarter tuition. Once it disburse, interest starts to accrue from that amount. If i borrow 110k this year, and we have 3 quarters for first year, each quarter is about $37000 due in payment.
Let’s say my fall quarter tuition is 37000, when school disburse that money, interest accrued with that principal 37000. Then winter quarter tuition is 37000, so now interest accrue from 74000 + interest that build up throughout fall quarter.

Would interest accrue less if i borrow 110k and then contribute $2500 toward each month. Or should i borrow less and save 2500$ in cash and contribute all that toward my last quarter payment. Which way accrue less interest?

I’m super new to this, I never borrow student loan before so have no idea how it works and what’s the most efficient way to pay. I’m hoping that by the time i graduate, i only left with 350k instead of 500k