Is Using Student Loans to Pay Off Credit Cards a Good Idea?
Generally speaking, using student loans to pay off credit cards is a bad idea. You are paying off debt with another form of debt and this vicious cycle can negatively affect your credit score. In fact, depending on your student loan contract, you may not even be permitted to make this type of payment. There are only a few rare cases when this is a good plan, and even then it is not without drawbacks.
