Get cash back for consolidating your student loans
If you consolidate student loans, you have other options.When looking to get a credit card, there are a variety of things you should consider.While it may make sense to take out a personal loan in order to consolidate student loan debts, it’s probably not a good idea to pay your student loans with a credit card, and it may not even be possible.Many student loan companies will not allow you to make a payment with a credit card, and those that do may charge a transaction fee to cover the cost of credit card processing fees.
What I mean is that you can completely get rid of your debt entirely on your own, AND without paying any of the debt you actually owe back to the Federal Government. It’s relatively straightforward: you’ll need to find a way to qualify for one of the Federal Government’s Student Loan Debt Forgiveness Programs, and you’ll need to get enrolled in one of their Income-Based Repayment Programs, which allows you to set your monthly student loan payments at an amount tied to your disposable income.
I’m going to let you in on a little secret: it’s possible to completely get rid of your student loan debt WITHOUT paying a single cent!
This secret has been true for many years, and remains possible in 2017, at least until Donald Trump’s Student Loan Forgiveness Program gets put into place (which MIGHT screw everything up for those of you looking to wipe out your debt without paying for it…).
When you carry a balance you will begin accruing interest on your credit card right away, which means your loans will cost you substantially more in the long run.
You will also see your credit card balance increase quickly.