Should I get a regular loan to pay off my Student Loan?

I think I made a bad decision when I got my student loan. It wasnt a huge loan ($8,400) but I think I should have been a little more smart about it. Right Now I%26#039;m pying around 80 dollars a month for it. Basically just covering interest. the thing is teh interest rate on it goes up every now and then for no reason, currently its close to 10%, (at 9.8 or around there)

I%26#039;m not the best person with finances, but I was wondering if anyone thinks if I should get another loan to pay this one off, and then pay off that other loan. I mean does anyone know of a place where I can get a loan with a low interest rate?

Thanks so very much.

Should I get a regular loan to pay off my Student Loan?

I would say no, definitely do not get a personal loan. Why?

1. If you run into a financial hardship, you can defer a student loan.

2. You get a deduction from your taxable income on any student loan interest, you don%26#039;t get that from a personal loan.

That said, your interest rate 10% seems a little high for a student loan. You may want to go back to your school (or another public university in the area) and see if another company would be interested in taking on your student loan. Most student loans run around 6%, and usually they offer discounts for automatic payments.

Should I get a regular loan to pay off my Student Loan?

Usually the interest rate on your student loans will be lower than the personal loan. Plus, if you run into financial hardships you can put your student loans on deferrel, which you wouldn%26#039;t be able to do with a regular loan.

There%26#039;s nothing saying you can%26#039;t pay more on the loan if you have the money to pay it off sooner.

Should I get a regular loan to pay off my Student Loan?

no don%26#039;t get another loan other you will be deeper in debt check on the internet . i cant think what the name is but it is on the internet and they will help you

Should I get a regular loan to pay off my Student Loan?

you can check into it but unless you own a home and can refinance or something like that, the interest rate on your current loan is probably better than any other one you could get right now. interest rates are just bad right now but they%26#039;re getting better!