There are lots of things to think of just before you use scholarships money to pay off credit cards. First, you need to double test that there are not legal consequences of utilizing your student loan money on something other than your education. If there aren’t, or you’re disposed to risk it, you can pay off credit cards. This is primarily because the interest rate that comes together with your student loans is most likely much lower than that of your credit cards. In addition, depending on the form of student loan you high quality for as piece of your financial aid, your loans may be put off, and might not even obtain interest for the time you are in school.
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