| So you're attending college to try to build your | | | | The problem comes when you finish school and you |
| career, but you find that your debts are distracting | | | | have to begin making payments on your student |
| you from your studies. You might consider using your | | | | loans. Although you may have saved credit card |
| student loans to pay for your debt... but is this really | | | | finance charges by paying your debts with your |
| a good idea? | | | | student loans, your loans have been quietly accruing |
| When you sign a student loan agreement, you are | | | | interest while you were in school. By the time you |
| telling your lender that you will use the loan to pay | | | | have to begin making student loan payments, you will |
| for expenses directly related to your education. This | | | | have incurred more in interest charges than if you |
| can include living expenses, and personal debts are | | | | had simply paid off your debts through part time or |
| arguably a part of these expenses. Your lender would | | | | full time income. |
| likely not be pleased to learn that you used your | | | | If possible, it's a good idea to avoid using student |
| student loans to make credit card payments, but if | | | | loans to pay off debt. You'll end up paying much |
| you incurred credit card debt as a result of being in | | | | more in the long run - the debts you could have paid |
| school - say, you had to reduce your work hours to | | | | off in a year or two will hang around for a decade or |
| attend classes - it would be possible to argue that | | | | more, building interest the entire time. |
| your debts were related to your education. | | | | |