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#1
06-15-2008, 06:27 PM
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 Re: Credit Card vs Plus Loan for College... Should worse come to worse, crdiet car debts are dischargeable, while formal student loans may dog you well into old age. ------ Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. |
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06-15-2008, 02:20 PM
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| Re: Credit Card vs Plus Loan for College... On Jun 14, 5:26*am, "HockeyDad10901" <capitalsmidgetmi...[at]optonline.net> wrote: - quote - > For a college loan for my son, is it better to take a Plus Loan at 8.5% or a
So at the end of 6 years interest payments would total about 6*2.9 => 2.9% for life Chase credit card offer? We are talking about $20K. 17.4% for the CC vs. 2*8.5 = 17% for the Plus, essentially breakeven. After this, you are way ahead with the CC. Plus you have the $20 in the bank earning interest. I agree with you. A risk is the high interest on future advances but you can limit the card to $20k. Frank ------ Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. |
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#-1
06-14-2008, 10:26 AM
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| Credit Card vs Plus Loan for College... For a college loan for my son, is it better to take a Plus Loan at 8.5% or a 2.9% for life Chase credit card offer? We are talking about $20K. I know the plus loan starts in 4 years but the interest starts soon. Just seems like a 2.9% credit card HAS to be better as long as I pay on time, yes? no? opinions? ------ Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. |
| Tags |
| card, college, credit, loan |
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