3K in cash: Towards tuition or savings?

Hi everyone! I have a quandary I thought I'd throw out to the awesome YNAB community.

I've been budgeting with YNAB for a little over a month and I LOVE it. I've been able to set aside about $2000 towards my $3300 grad tuition bill this fall, and I'm on track to fulfill my goal by September. Hooray! Here's where things get tricky, though:

I just quit my job without another one lined up. It was absolutely the right call, but it puts me in a much less financially stable position than I was hoping to return to school in. I'm working on finding remote employment, but in the meantime I'm wondering if I should hold on to the $3K as a potential income replacement (worst case) or as future loan repayment money (best case), and cover my tution bill with the 6% public loan I've been offered. (Let it be known that I am LOATHE to do this as I am already almost 90k in student loan debt! A topic for another day.)

Forum readers, have you ever been in this spot before? It's been so inspiring reading stories on these forums about people who were able to pay down all their student loans, and I'm excited to keep working on those goals! But oy vey, 2020 has been way too much of a roller coaster for me to feel 100% confident about giving up $3K of savings.

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  • Would you take a 6% loan to live on if you weren't going to school (and didn't have that money saved)?

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