[QUOTE=Laurierace;8837762]
I agree with do not pay in advance but question whether a loan for living expenses being used to pay board is a smart thing to do. Loans aren’t free money, less is more. Maybe lease the horse out until you can afford to pay for him with money you won’t be making payments on 20 years from now?[/QUOTE]
Thank you, everyone for the advice! In regards to cautioning over loan use, while I appreciate the advice it isn’t necessary. I have a strong understanding of academic loans, as I have paid for my own education in the past. I understand that whatever I borrow needs to be paid back, and have borrowed a very conservative amount (far less than what I was living on when I was working full time). I did so to ensure that my personal expenses were taken care of, while also being mindful to not take an insane amount that I don’t need. I see it as being no different than a mother or father requesting, and being approved, for a loan that will be used (in part) for day care expenses or even tuition for a private school (if their child attended one). Leasing is also not an option at this point in my horses life, as he is 27 and that is not something I am comfortable with.
It terms of the majority of the responses, it seems it is not a wise idea. Good to know! I am going to take the advice given and, instead, place it in my savings and set up auto-pay. Thanks everyone for your insight, seemed like a good idea on paper (hassle wise) however it’s obvious it doesn’t necessarily play out well. Thanks again!