Student loans are for paying for living expenses and related school expenses. Not for paying off credit card debt. That is not on the list. What you do with the refund once you get it, is up to you though. If you do payoff credit card debt with your refund then do yourself a favor and do what you have to not run up the credit card anymore while you are in school. Cut back on your expenses so you do not need to borrow as much.

What you will owe when you graduate from school is going to stack up quick and that monthly payment should not be a three headed monster you will fight to pay every month.

Sadly, the cost of funding an education these days can be high, and for those that want to improve their chances of a successful future through increased education there is the inevitable issue of debt to deal with. Many students now leave university saddled with a high amount of debt, and in addition to their student loan also have a rangerather than rushing into a decision. The objective of consolidation is to reduce the number of repayments that you make, but also to reduce the amount that you pay out each month, and if you choose the wrong plan or lender you could find that you do not achieve this objective.

Yes, but you don’t tell them that. They just give you the loan based on what you fill out on the form. If you have a lot of savings, the loan will be less, but if you have a lot of debt the loan will not get bigger.