(Edited: summary below) I understand you because I am in the same position as you. It is just that I have national service and I have just completed it. Based on what I infer, you fail to get scholarship as most admissions have ended. A better choice after loans is getting a bursary from your university. Consult your university 's financial advisor. They will give you a better answer. At the meantime, are you under low income? If yes, financial assistance scheme. Bursary and financial assistance will lower your financial burden but you still need to get study loan. At the meantime, focus on your university to get a mid-term scholarship. Consult with your parents, how far can they support you during university? What you can do from now till university is to use the time to get more cash, more savings for your university. Learn about personal finance too to maximise your cash flow during university. If you really want to invest, start with regular saving plans (sti etf) using the minimum amount ($50). This is meant for long term. However, you need to ask yourself, do you know anything about investing. Without prior knowledge, you are losing more than you earn. Basically gambling. From your situation, you could hardly afford to invest within 3 months because you need the money when u start university . Is your choice of investment highly liquidable? Basically, high liquidity and cash inflow should be your focus. If you really want to earn money with money (invest), you could consider SSB. Low risk, low return. Better returns after locking for 10 years. If you are really willing to take the risk, you can consider p2p- lending. The longest holding time is 12-24 months (may pay back monthly in instalment). The shorter is 30-90 days for invoice financing. Research about the various p2p lending platform before starting. Read the reviews from seedly and other financial blogs. I do make some comments about p2p lending and there are guidelines you could listen and apply to in the forum. My personal advice is don't invest unless you learn to manage your money. Just focus on part time job. Furthermore, I do not get which is a better choice for you because there isn't anything for me to compare to. You ought to be asking yourself how you could improve or lighten your position. (former is how you could rephrase your questions and mindset) Even if you do take loans because you have no other better choices, how can u get rid of the debt within your comfortable means? Summary: 1.it is actually OK to take loan. The most important part is how you learn to deal with it after university or even during. 2. Avoid investing because You need cash on hand to access anytime, not locking in investing. 3. What I recommend you is learn to budget(spend wisely) and save smartly.