@Anonymous wrote:
If I may co-opt this thread for a related question...what about borrowing to fund an IRA? I'm a student and I don't make enough to make the full IRA contribution each year and still pay for college. I could take out additional private student loans ($11,000) to be able to make the contributions for two years I'd otherwise miss. Is that a wise decision, given variable interest rates and whatnot?
What you're proposing is essentially margin trading. I could explain it in depth, but instead I'll link you to a site I often use for investment terms.
http://www.investopedia.com/university/margin/
It's an unnecessarily risky strategy that I would recommend against.