9-year reservist, no deployments. Also apparently have used up an GI Bill cash I had in undergrad. Currently I am attending law school with essentially no scholarship money ($500/semester) so paying almost full amount (Yes, I can see you cringe). I had leftover loan funds (approx $6,000) and am due to receive a $10k bonus for re-obligating in reserves for another 3yrs. I know its legally questionable to invest student loan funds but was wondering if there is anywhere I can put/invest these so I maybe grow the amount in order to pay back more on my loans after finishing school in 3 years.
With the $10k bonus the caveat is that if I am worried about having to potentially pay back that amount due to breaking my contract (by say, dropping to inactive ready reserve), is there somewhere I can still invest those funds that will allow me to withdraw them at any time without any, or a small, penalty?