[Sniper]

[ QUOTE ]
I'm curious why you don't think "gambling" with that money is a good idea, as that is precisely what I had in mind. I also believe I could beat the interest I will owe with a CD or bonds. In short, I'm having a hard time finding any reason not to take the loans, other than I never have had any debt before. I guess this is the best kind of debt one could have though.

[/ QUOTE ]

Student loan debt is usually at a very low interest rate. If you can do something with the money that will earn more than the cost, then it is alway a good idea. The risk is that you won't be able to beat the borrowing costs.

The only problem I have with your question is the use of the word "gambling". If your intent is to put 20K on black or 1 hand of blackjack... don't do it. If your intent is to make smart "investments"... then do it.

Its probably worth noting that while 20K may sound like alot to you today, when you graduate and get a good job (that is the plan, right?), it won't seem like all that much any more!

A side benefit of taking the student loans, is that you will strengthen your credit history!