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rubecube · 02-11-2016, 01:06 PM

So I was just talking to my bank (I just lost my wallet in Vegas so that's about my level of financial acumen) and they offered me an RRSP loan at prime. Is this a decent way to invest? I'm going to be finishing school in two months and figure I can have my student loans paid off in 4-5 years (if I don't do grad school), but I don't really understand the point of taking on more debt in the same timeframe. The dude on the phone said something about being able to use it as a deduction on my taxes, but I think I maybe made $25k after taxes this year, so I'm not really sure if that's even that great of a deal. The job I have also comes with a pension.

I get that the guy was probably just trying to make a sale, but I can't see any positives in taking on this loan. Am I completely out to lunch here?

02-11-2016, 01:06 PM	#1
rubecube Franchise Player Join Date: Mar 2006 Location: Victoria Exp:	RRSP Loan? So I was just talking to my bank (I just lost my wallet in Vegas so that's about my level of financial acumen) and they offered me an RRSP loan at prime. Is this a decent way to invest? I'm going to be finishing school in two months and figure I can have my student loans paid off in 4-5 years (if I don't do grad school), but I don't really understand the point of taking on more debt in the same timeframe. The dude on the phone said something about being able to use it as a deduction on my taxes, but I think I maybe made $25k after taxes this year, so I'm not really sure if that's even that great of a deal. The job I have also comes with a pension. I get that the guy was probably just trying to make a sale, but I can't see any positives in taking on this loan. Am I completely out to lunch here?