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Abusing the system would be to have used the welfare system illegally. Finding tax breaks that you fit the criteria for is legitimate. At the time, though, I did have 3 different student loans coming due, and if I hadn't gotten the $5k, I might not have been able to save for a down payment on a house. College students aren't rich...
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Bryan, first, (and I've said this before) congrats on the house. It's a big step and one to be commended for somebody of your age.
BTW, I recently bought my first house. I'm also still paying student loans. My take on it is this: If you wouldn't have gotten the 5K, maybe you would have had to wait a year or so longer to buy that house. As you said, college students aren't rich. As a result, most college students don't buy houses.
Just a thought (perhaps a jealous one at that
) , since I wasn't able to buy my first house until I was 35.
And you'll probably
love the tax breaks you'll be able to realize as a homeowner. Heck, with your accountant, the house will probably be paid off in a year.
Jim