CC Debt/Student Loan Consolidation [C&F]

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ad88
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Joined: Wed Aug 03, 2011 2:38 am

CC Debt/Student Loan Consolidation [C&F]

Postby ad88 » Wed Aug 10, 2011 5:21 pm

If I had approx. $700 in CC debt from undergrad (making payments, never defaulted) and used excess student loan money (Grad PLUS) to pay off the balance and close the account - would this present an issue during bar admissions (C&F)? Interest rate on a student loan is <8% compared with +20% APR on credit card. Can't work during first year of school so pretty soon I won't have the income to cover the CC payments. Concern is that bar might view this as student loan fraud and/or poor money management. Credit otherwise is prime. Thanks

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NYC Law
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Joined: Thu May 26, 2011 3:33 pm

Re: CC Debt/Student Loan Consolidation [C&F]

Postby NYC Law » Wed Aug 10, 2011 5:22 pm

No.

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glitter178
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Joined: Sun Mar 07, 2010 8:21 pm

Re: CC Debt/Student Loan Consolidation [C&F]

Postby glitter178 » Wed Aug 10, 2011 5:30 pm

The ABA is too busy approving the opening of new TTTT law schools to dig that deeply into your financial records.




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