• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Is this like consolodating for college students?

R

Red

Diamond Member
I have about $4,000 in credit card debt (APRs ranging from 10 to 28%) and I have student loans. This is my junior year and my student loan paperwork says that I can sign for a P.L.U.S. loan @ like 3% for 6,000 or something like that. I'd like to put my credit card debt into that and then cut up my credit cards and pay off the $4,000 @ 3% instead of the really high interest rates. Does this sound like a good plan?
 
If you are actually allowed to do that, then paying at 3% is much better than at credit card rates. However, make sure there aren't any limitations on what you can use that loan for.
 
Just talk to someone besides us on ATOT to make sure. You never know what kind of clause they might throw in. And watch your debt, it took my uncle ten years to get out of debt.
 
Yeah, they don't monitor what you do with the cash. Just remember that student/plus loans have an origination fee of like 3%. So add 3% to whatever amount you need to borrow to cover your cards.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top