<prompt> Human: I started my grad program last fall without a job, and maximized my federal loans to pay for my school and my half of the living expenses I live with my fiance. In January I secured and assistantship which paid for my tuition and came with a stipend that was just enough for my half of the living expenses. So, I took out about 22k anticipating having to use it all and I still have about 16k of it sitting in my bank account. I found out yesterday that my assistantship was renewed for the fall and will likely be renewed for spring as well leaving me to only have to pay for summer classes.Would I be wise to just hold on to the extra money I took out last fall in case I need it, or should I pay it back in order to avoid accruing interest? We have about 2k in our joint account, which would last us about a month and a half if something terrible were to happen.tl;dr: Im holding on to 13,000 in unused loan money. Would I be wise to pay it back now or should I hold on to it, as I may need it in the future?  <response>: In case of life should be the official emergency fund slogan. 