Using Students Loans To Pay Student Loans: Possible Or Not?


Paying student loans with student loans is difficult to manage, especially by a student who doesn’t have any financial knowledge to begin. On top of that, there are many factors involved in the equation too: interest, fluctuating prime rates, estimated deposits, and other components that are unpredictable to tolerate.

However, getting through all the trouble is worth it. For instance, depositing $6,230 into your reliable TFSA through the course of 21months can help you save $12,670 and a full 2 ½ years of living with incurred debt. Opting for TFSA would mean a lot, especially to a student that pays many bills monthly.

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