Would you recommend a student loan for consolidating outstanding debt?


Auto loan, Credit Card, Personal Loan. Interest rate is very low compared to these. Your take on a good option and do you have to be fully enrolled, meaning a full time student at all times during the loan process? Thanks.

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4 Comments

  1. book_allie says:

    No. I recommend paying as you go. Cash. Don’t accumulate debt to begin with! I recommend taking no loans at all; It’s horrible to get out of college and find yourself faced with a huge loan. But if you HAVE to get a college loan, use it for college. Your education is more important.

  2. Jerry T says:

    No, I would not recommend it. Student loans are so you can attend school and get smart enough not to make stupid moves like using student loans for all the wrong reasons.

  3. Eric H says:

    I did. You can still get some low interest rates if you act soon. I turned a $300 per month payment into a $60 per month payment. Sure I have to pay for a longer period of time. But I’m only paying around 2.5% interest. The key is to use the extra money you have every month wisely. Like invest in something that will get you a much higher return on your money than the 2.5% your paying in loan interest.

  4. Shone says:

    I definately recommend http://www.consolidation-fixed-loan-rate.com They have a lot of good resources.

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