Is it okay to invest using a loan?

I have a student government loan (OSAP) that's in the bank gaining interest. I can easily spend that money university textbooks nice house, but i'm stinging so much that I have money left from my loan to accumulate in a high interest savings account.

Hoping that i don't need to pay back as much.

I've been told that a loan is a loan and I can do whatever i want with it. But i know that interest is included into income tax in Canada.

Is it okay to invest using a loan?

Although it's probably against guidelines, it's not illegal. Even if it were, they would never know what you're doing with the money, it's your privacy. If it's a very low interest loan it probably won't beat out the rate of inflation; keep it and pay the minimum each pay date! Then invest it in something that will give you a higher return than the interest you're paying. It's always fun to put your government's money to work! =)

Is it okay to invest using a loan?

Pay it back now unless interest is deferred until you get out of school. Unless the interest is being paid by the government while you are in school and not compounding, otherwise, it's best to just give it back now. You only pay tax on the interest.

Is it okay to invest using a loan?

Well taxes on the interest you make are not a problem; at least you'll be making money. Put it somewhere safe and liquid, like a money market account.

Is it okay to invest using a loan?

If you have left over money you can invest in other things. Maybe buy some index funds which will give you a safe return and once you graduate and have to pay the loan back you got a nice return.

Free money from the government. I like that.

Is it okay to invest using a loan?

Yes, no problem. Just make sure you invest in something that is in a bull market phase, like Silver.

Invest in Silver, often called %26quot;the poor man's gold%26quot;. Silver used to be a monetary metal, and maybe some day it will be again. I've recommended silver before, and now I'm going to recommend silver again. Back in 1980, gold sold for 850 and silver sold for 50. Then, one ounce of gold would buy 17 ounces of silver. Today with gold near 900, one ounce of gold will buy a whopping 55 ounces of silver. It seems to me that silver, in terms of gold, is %26quot;too cheap.%26quot;

Is it okay to invest using a loan?

Check with a licensed security dealer. It may not be legal There are restrictions on what can be done with student loan money in the US, I have no knowledge about CA.