Consolidating loans

Started by Hendlefe
This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

Hendlefe

Pharmacy Resident
10+ Year Member
5+ Year Member
15+ Year Member
Advertisement - Members don't see this ad
I am currently not a student and will be getting some loans soon. Can I use my public or private loans to pay off my credit cards and my mom's credit as well? She owes like 2 grand for seeing a dentist. I have a few credit cards with about 3-4k debt. I also want to buy a laptop for school so maybe another 1k.

Can I lump all of my credit debt into a loan?

Thanks
 
Hi OP,
Have you considered getting a balance transfer to another credit card? That can hold you off for 6 months with zero interest. Just pay it off completely and dont let it go on beyond the introductory/promotion period and youll be fine. I've never done this myself but in theory it sounds very good.
Best of luck.

here are some examples to check out:

 
Thanks for the response. I doubt I can pay off my credit cards plus my moms dental credit by the time I start school. I want to move all of my credit onto a loan so I can pay it off after graduation. I know that some loans won't allow me to use it on anything I want
 
Advertisement - Members don't see this ad
I am currently not a student and will be getting some loans soon. Can I use my public or private loans to pay off my credit cards and my mom's credit as well? She owes like 2 grand for seeing a dentist. I have a few credit cards with about 3-4k debt. I also want to buy a laptop for school so maybe another 1k.

Can I lump all of my credit debt into a loan?

Thanks

Not into a federal student loan. You might be able to in a private loan with a much higher interest rate.
 
I am currently not a student and will be getting some loans soon. Can I use my public or private loans to pay off my credit cards and my mom's credit as well? She owes like 2 grand for seeing a dentist. I have a few credit cards with about 3-4k debt. I also want to buy a laptop for school so maybe another 1k.

Can I lump all of my credit debt into a loan?

Thanks

You can receive student loans - and use that money, after tuition is paid - for whatever you wish. I do not recommend it - but it is certainly possible.