<prompt> Human: I live in Quebec which likely has the lowest tuition cost in the entire North America. I can easily pay off my tuition fee with my summer job earnings, but my dad thinks I should still apply for student loan because it is interest free while Im in school and I can simply invest the money. I, on the other hand, am not comfortable with the thoughts of getting unnecessary debt. I would very much like to hear your opinions. edit: add more info as requestedExpected interest rate: 3.5, with a six month grace period following graduationBut Canada has really low interest rate right now, if economy picks up, than the rate can go up to 6.75 based on previous data available.I currently have 30k of student loan. I expect my tuition cost to be around 4500year for the next few years. I assume my student loan, if granted, will be just enough to cover the tuition costs. I am pursuing a PhD degree in engineering and will likely end up with a job paying 50kyear optimistically?edit 2: I should have specified student loan instead of debt. I have 30k of student loan and that is it. I pay all my bills on time. edit 3: Thank you for all your comments and suggestions. I think the consensus is to do it, provided Im not dumb enough to blow the free money. I will look into investing first thing in the morning. You guys have been great helpful. Again thank you so much.  <response>: You have enough debt. If you dont need it, dont take any more on. Its optimistic but naive to say Loan interest is 3 but I can invest my money at 5 and make a profit! The fact of the matter is loans have minimum payments external to the rest of your expenses. If youre independently wealthy, you can borrow money, invest it and reap a higher return without having to worry about making ends meet. This is not you. Are you still an undergrad, or did you actually start your graduate work yet? Do your loans still charge interest while under the grace period? I dont believe the answers are material. If you dont need the loans, stop taking on the debt. 