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Old 08-02-2007, 12:40 AM
Cubswin Cubswin is offline
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Join Date: May 2003
Posts: 4,979
Default Re: Debt Consolidation Loan? Student w/ 10k CC debt, but about to make

Best Advice Ever [img]/images/graemlins/grin.gif[/img]

Seriously though. Getting new credit cards to do 0% balance transfers is probably not an option giving your current balances and lack of income. DO NOT DO LOAN CONSOLIDATION. This can have adverse effects on your credit score/report.

Assuming you have maxed out your federal loans (or arnt eligible), you next best bet is probably a private education loan.

You should also take a long hard look at your spending habits and cut back on all unnecessary expenditures. I know you have a lot of expenses beyond what government loans will cover, but I'm guessing you probably have some leaks that need attention. Start this trend now and it will haunt you for a long time... even after you start making good money. My college roommate graduated law school with 35k in CC debt and despite making decent money he has made little progress paying down his debt after 3 years. You dont want to go down this road.
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