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Old 03-05-2007, 07:29 PM
scott1 scott1 is offline
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Join Date: Sep 2004
Location: New York
Posts: 369
Default Re: Cycle of Debt: What are my options?

Can you get a student loan, or larger student loan? If so, immediately pay off the cards and don't sweat the loan until graduation.

Assuming you can't do that, I'll take a contraian position, and say I wouldn't sweat the debt that much as long is it isn't growing. I guess this is a judgement call, but if you're at a good school and get good grades, you'll be getting a high paying job at the end of school. Keep the cable, maybe stop the vacations until you graduate, but you know that eventually you'll have a good salary and if you are fiscally conservative your first few months at the law firm you'll be able to pay off the debt quickly.

Why deny yourself what is a relatively standard service (cable) when your buying power in a year and a half will make this current cost, even with the accrued interest, relatively trivial. Enjoy yourself when you can in law school. Don't take a job that may affect your schoolwork and will not benefit you career-wise just to pay off these cards now.
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