<p>Wow, the rates and amount have changed. My s was offered $25,000 at 1% from USAA only (KP06). If he was offered from Navy Federal I never heard about it. It’s dumb NOT to take it since you can just invest it for better return than 0.5 or 1%. He took it and did just that, I think he used a bit to buy a new computer. A lot of mids buy a car, as was said earlier a 1% (or now 0.5%) car loan, but his grad gift was a car since we didn’t have to pay much for school. Unfortunately, a few of his friends just kept spending the loan without employment but eventually started working. At this point in my s’ life I’m sure those payments are not hurting him, as he just upgraded to 2nd mate and already made too much for a kid his age :)</p>
<p>A good deal to take it, although I’m not sure I would have encouraged him to take both those loans if they were available. That much debt would make me nervous for someone just out of school, even with the earning potential these mids have.</p>