Should I get cash from credit card at 0% for 8 months and put it on loans?
Do you know how many people end up with an 18-21% rate on their credit card?  They started off with low teaser rates.  There was an article about it recently on Yahoo.  Mainly this comes from a lack of discipline, or an unforeseen emergency.  However, lets assume, that you are a bit uncommon and have iron discipline. It comes down to a math question.  What is the rate on your student loan?  I am going to assume 6%, and lets say that you are now paying interest.  So there is 7 months between now an then, you would pay $140 (4000 * .06/12 * 7) in interest if you left it on the student loan. Typically there is not really a free lunch with the zero percent interest rate CC.  They often charge a 3% balance transfer fee, so you would pay that on the entire amount, about $120.   Is it worth the $20?  I would say not.   However, those simple calculations are not really correct.  Since you would have to pay the CC $588.6/month to take care of this, you have to shrink the balance on the student loan to do a true apples to apples comparison.   So doing a little loan amortization, you can retire $4000 on the student loan only paying $583/month, and paying a total of $80.40 in interest. So it would cost you money to do what you are suggesting if there is a 3% transfer fee.   Even if there is no transfer fee, you only save about $80 in interest.   If it was me, I would direct my energy in other areas, like trying to bring in more money to make this student loan go away ASAP. Oh and GO STEELERS!
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### Instruction:
Should I get cash from credit card at 0% for 8 months and put it on loans?

### Response:
Do you know how many people end up with an 18-21% rate on their credit card?  They started off with low teaser rates.  There was an article about it recently on Yahoo.  Mainly this comes from a lack of discipline, or an unforeseen emergency.  However, lets assume, that you are a bit uncommon and have iron discipline. It comes down to a math question.  What is the rate on your student loan?  I am going to assume 6%, and lets say that you are now paying interest.  So there is 7 months between now an then, you would pay $140 (4000 * .06/12 * 7) in interest if you left it on the student loan. Typically there is not really a free lunch with the zero percent interest rate CC.  They often charge a 3% balance transfer fee, so you would pay that on the entire amount, about $120.   Is it worth the $20?  I would say not.   However, those simple calculations are not really correct.  Since you would have to pay the CC $588.6/month to take care of this, you have to shrink the balance on the student loan to do a true apples to apples comparison.   So doing a little loan amortization, you can retire $4000 on the student loan only paying $583/month, and paying a total of $80.40 in interest. So it would cost you money to do what you are suggesting if there is a 3% transfer fee.   Even if there is no transfer fee, you only save about $80 in interest.   If it was me, I would direct my energy in other areas, like trying to bring in more money to make this student loan go away ASAP. Oh and GO STEELERS!