not sure what to do

[Hunter Gatherer]

I'm currently in college to become an orthopedic technician. I cashed out my retirement, got some grants and student loans and currently have 5k.

I will get another 2k from my loan for spring semester.

I don't have a job atm but plan on getting one start of 2010. I have to save 3500 to pay for my summer internship.

I will have about a 10k fed loan that i have to pay when im done with school mid july. That will be my only debt.

So my dilemma,

Should I save my money to pay for some of my internship and debt?
OR
Should i add to my physical stack of silver and invest in SLV mining stock?

I absolutely have to pay for my summer internship but hopefully i find a job this winter to help save for that. I'm willing to do anything worst comes to worst ill go around shoveling snow, work at burger king I really don't care i need a job this winter.

Hopefully when I get out of school i can find a job right away but who knows with this economy.

what would you do?

 

[lavis88]

I'd play it safe - you know it's going to cost you 3500 - so stash that away. Keep a buffer of cash and then you can put some other cash in gold and silver.

 

[MelissaWV]

I would start looking for a job now. I have heard from a lot of my still-in-college friends that they are going to start looking after the holidays. They don't want to have to stick around for interviews, etc., or work on holidays. It's also still rather difficult to find a good job, and it sounds from your post like this might be your first (or first after a hiatus); that makes it more difficult.

As for the silver, you mention having some already. That's great and sound, but like it or not you do need those FRNs at the moment. Loans have icky interest rates, even "low interest" student loans. I would sit down, make a realistic budget that doesn't include so many "hopefully" statements, and then take whatever's absolutely left over (if any) and plunk it towards the debt.

 

[constituent]

You have to pay for your internship? What a load of crap.

...all the while robbing yourself and someone else of gainful employment

I would ask how far you are into the program. Might be time to find something that pays...

 

[Hunter Gatherer]

You have to pay for your internship? What a load of crap.

...all the while robbing yourself and someone else of gainful employment

I would ask how far you are into the program. Might be time to find something that pays...

yeah I was not too happy when i found out I had to pay for my internship but its only for 6 weeks.

Its something that i really like to do, took me a while to find something that i could enjoy doing for the rest of my life.

 

[krazy kaju]

You should pay down your debt first. That's the safest bet.

 

[jkm1864]

Get a job as soon as You can and don't wait. The job market is rough as hell right now and its not going to get better any time soon. I have not worked in 2 months this year but I still have my job. I had 5 months so far this year with NO work what so ever and its not looking better next year either. I work in the oil field btw which should be doing ok but guess what no loans = no work. I am seeing deflation big time and the money is drying up. I have a friend whom knew about the feces coming toward the fan. He quite His job 5 months ago due to someone stealing His shower shoes and has not worked since. I don't know how He is supporting himself but I haven't talked to Him much since then due to being mad at him. My neighbor has not had any work either and had to quit drinking due to it. We both talk to each other over the fence and believe Me its getting a lot worse.

 

[jkm1864]

Oh and to give You an idea .... I spent 9 months offshore last year. This year I might have only put in 5 months.

 

[Hunter Gatherer]

I have no transportation atm I'm also going home for the holidays. I get back Jan 5th that is when i'm going to look for a job, getting around will not be a problem after the holidays.

thank you for all the advice but I'm going with my gut on this one.

I'm going to put 2k into SVM.
and
I'm going to add 2k worth of silver to my stack.

worst comes to worst ill sell some silver to pay for my summer internship.

For my loan, I need to start paying for it 6 months when school ends. School ends in july so i have till around next year to start paying off my loan.

I'll be working in health care so I have a good shot at landing a job when I get done with school.

I just don't want to miss out on the silver train.