How to Make Money With Student Loans

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College is expensive, and more often than not you need student loads to help fund your education. Sometimes you may receive all of your money for the entire school year at once. If this is the case, it is possible to earn extra money with the extra money you have. This can give you a few extra dollars towards books or even allow you to pay off some of the loan interest you are incurring.

  • Place the money into a high yielding savings account, such as an insured money management account (IMMA). This kind of account offers a higher interest rate return. However, you are required to have a minimum balance (typically around $2,000) to receive the increased interest.

  • Invest in a short-term CD. You can obtain CDs for three or six months. However, once you invest in the CD, you cannot withdraw the funds until they have matured. The smaller time span offers a lower interest rate. CDs are FDIC insured so there is no risk of losing the money.

  • Put your money into a mutual fund account. Mutual funds are a series of stocks purchased by professionals all compiled into one share. The average amount the stocks go up is how your investment increases. Although this investment is not insured, and it is possible to lose money, mutual funds are often safer than stocks.

  • Purchase stocks as an investment. Although you can see high returns with stocks over a short period of time, it is also possible to lose a lot of money. Make sure to do plenty of research before investing in a company.

  • Travel to a casino. Although this is not the best idea and you're more likely to lose your money, it is possible to obtain a large payout by gambling your money.

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