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Paying off student loans with other loans?


Asked by lawechang
I owe around 40K Canadian in student loans. Interest is prime plus 2.5 = 8.5%. Can anyone suggest the best and cheapest way to pay off these loans? Im thinking using a LOC or another loan to pay them off.

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Answered by slykitty62
If you are doing a debt consolidation, it may be the smartest thing to do. Especially if you can get a lower interest rate in the process.

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