Other OT-Related Information Loans, do I use my savings first?

[SKMOT]

Hello all! Thanks for any advice.

I have a small amount in my savings- 16,000 to be exact. Im going to put 5000 in an emergency fund... but...

For the total of about 50,000 for my next two years of living costs and tuition, is it better to use my savings up front right away so that the loans don't start accruing interest? I know I don't have to pay it until graduation, but it seems that if I can hold out longer, that is better. I also have the option to BORROW (not keep) from a family member. Sans interest. Which would be lovely, but here is the OT specific question.

I know a lot of jobs will pay back loans. If I do it all out of pocket, will I be loosing the opportunity to have a work place settle my debt for me? I will eventually need to take out some loans, probably my second year. I'm thinking of splitting the difference and doing tuition and books from loans (all the way through) and then going out of pocket/ borrow from aunt for living expenses.

Advice! Please! THANK YOU ALL SO MUCH!

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[vdubs027]

You are in a great situation. If I were in your shoes, I would do whatever it took to take out loans as minimally as possible. You want freedom to choose your employer and location when you graduate; I would do my best not to limit my employment (typically to hospitals in remote areas with generally lower salaries). Good luck.