Paying off Credit Cards with Student Loans

[jb2]

Is it generally considered a good idea to take out a student loan to pay off a higher interest credit card?

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[kristing]

Is it generally considered a good idea to take out a student loan to pay off a higher interest credit card?

Oh my god, yes. Do the math on the interest and see how much money accrues with interest on your credit cards. The only catch it, you can't fall into the trap of using that credit card again since you now have the 0 balance at your fingertips.

 

[FinancialAidOff]

If you have used all your available Stafford Loan funding, consider using a private alternative loan to pay off your credit cards:

http://www.AlternativeStudentLoan.com
Alternative Student Loan