• Last Updated:
  • Oct 29th, 2018 2:02 am
[OP]
Newbie
Dec 5, 2012
53 posts
6 upvotes
Bridgewater

Student Loan Pay Off

I have about 9000.00 to pay off for student loan and currently paying prime + 2% ..I could take all of my savings and get rid of this debt but I am looking at options and at this point paying over 6% interest seems crazy right now!

I am wondering if anyone would recommend a best means to pay off this debt - I was thinking of applying for 0% interest credit card as I have very good credit and I do not think it would be any problem but have never done this before and not sure the balance transfer fee would be worth it.

Thanks for any advice or help on this question!
2 replies
Deal Expert
User avatar
Jan 27, 2004
41076 posts
4857 upvotes
T.O. Lotto Captain
I found a new BT promo thread
https://forums.redflagdeals.com/mbna-ca ... s-2210803/

Also take into consideration that student loans are tax deductible. So factor that into calculations to see whats better.

Also relatively speaking prime + 2% is actually very low for a unsecured loan. So if you need manage your cash flow... that type of loan is one of the better ones to budget out a monthly payment over time.
Deal Addict
Apr 5, 2016
3492 posts
2108 upvotes
Calgary/Vancouver
I agree Prime + 2% is often better than what banks give for preapproved personal line of credits. If the student loan is with the government, see if you still qualify for payment assistance. They may not waive your payments, but they may cover your interests. If not, yah balance transfer it out to a 0% promo.
Current Fido customer.
Ex Koodo customer.

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