I received my latest tuition reimbursement check in the mail. Actually, I received the check some time in the past two weeks, and somehow I missed it. While my girlfriend and I were tidying up my apartment, she stumbled across the envelope in a pile of pre-approved credit card offers — all junk-mail — that I was preparing to throw away.
The check is for about $1,500. Every time I receive one, I’m tempted to leave it in my savings rather than apply it to my outstanding student loan. The loan’s interest rate is pretty low — I could get a higher return from some online savings accounts.
It just doesn’t strike me as the right thing to do at this point. Most of the time, I’m spending less than I’m earning. I might be tempted to use the money to purchase something I really don’t need yet, like the new computer a co-worker is trying to convince me to get. It’s better to apply to check to what it is destined, my education-related debt.
Updated September 28, 2007 and originally published April 2, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.