Have any of you guys used federal school loans to pay off a monthly credit card stament?

I will be attending graduate school this coming fall. While relocating I%26#039;ve racked up some credit card debt. I intend to work while in college but for the first month I will be strapped for cash. I know you can only use your federal school loans for tuition, room and board, and other related expenses. Nevertheless, would be a problem if I used part of my loan to pay for this coming credit card bill?

Have any of you guys used federal school loans to pay off a monthly credit card stament?

You can do it.. no one will stop you.

But ask yourself this: Why in the world would you want to?

Sure the interest rate is lower on a student loan.. but student loans are non-dischargable should you ever have to file for bankruptcy.

I would also not recommend using home mortgage money to pay off credit cards (why would you trade an unsecured debt for a debt that is secured by your home??).

Have any of you guys used federal school loans to pay off a monthly credit card stament?

That sounds slightly dishonest...maybe even illegal!

: P

Have any of you guys used federal school loans to pay off a monthly credit card stament?

What are the chances of finding that out? I say, try it.

Have any of you guys used federal school loans to pay off a monthly credit card stament?

using your federal school loan for anything other than books, semester fees, possibly transportation to and from the courses, and requirements of the course itself, and perhaps on-campus or off-campus residence approved prior by the school and the loans....then anything else you use it for is illegal.

See if you can get your family to help you with that bill and that you will pay it back to them later. Or tell the school your problem and that you need a part-time job quickly, even if it%26#039;s helping the teachers with their typing, xeroxing, being a runner, or setting up rooms for classes, working in the caffeteria, doing anything at all. Don%26#039;t ever shuffle money, especially not the government%26#039;s money.

Have any of you guys used federal school loans to pay off a monthly credit card stament?

I haven%26#039;t..althou..it sounds like we are in different countries.

federal school loan?