This last year I basically had no financial help with college and so I made the huge mistake of turning to credit cards to help pay for college. Needless to say I'm in debt. I'm slowly paying it down but I'm no where near being done with it and its effecting my credit. I recently filled out Fasfa and qualified for it. I also found out that I qualify for a direct stafford loan and the loan is for quite a bit. I've been told that its better to have a student loan from a college than to be in debt to a credit card company. I was told by a friend that I should take the loan and pay off my credit card debt that way I'm out of debt to the card company and then after I graduate this year I can start paying the stafford loan off. The stafford loan is really the only way I'll be able to completely pay off the credit card. If I don't take the loan I'll be paying off the credit card for another 7 years, which probably won't help my credit. Which is better, having a credit card debt or having a student loan? Any advice is welcome.
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