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Thank you all for your input with a previous cc problem. Now I have another dilemma. I recently got accepted to UT Austin as a graduate student and I am going for a PhD which will take about 6 yrs. As part of my financial aid for this year, I was awarded a total of 13000 --$8500 is subsidized and $4500 is unsubsidized. I only have 1500 in cc debt but since i am working now, i will have them paid off by august before school starts.
Currently, I am paying about 300/mo for my car (i took an 11000 loan at 11.25% and have 42 pmts left) AND I already owe about 14000 in loans for my undergraduate education I have been paying 200/mo on this loan but i can get a deferrment on it in august. It isn't feasible for me to work while i am in school other than doing a teaching assistantship or tutoring so my income is going to be minimal and i will have to pay for tuition, housing and my car.
My boyfriend is graduating in May and should have a job by June. He is willing to support me financially (we live together) while i am in school.

My question is, should i take ALL the loans even though I might not need them (with my boyfriend working)? I plan on paying the interest on the unsubsidized loans as I attend school so it will not accrue for 6 years. My boyfriend thinks I should take the all the loans and after paying for tuition and books (which should only be about 3000), take whatever is left over and pay off my car (the loan at 11.25% interest)and help him pay off his cc (this was my idea). He thinks that if we pay the interest on the unsubzidized, that it's basically free money for now, and that when we have to pay it back, it will be at a fixed 8.25% interest rate, which gets dropped 2% points after you make 48 consecutive payments. I follow his reasoning but I don't know if trading in one loan for another is the wisest thing to do, and while I will accept some of the money, I don't know if I should accept it all. Then again, I don't want us to be in financial distress and not be able to make payments for my car and rent etc. He says that if we take the loans and pay off his cc that he will make monthly payments to my loan instead of the cc and save a ton of money on interest (he owes about 6000 at 18%). Does anyone out there have any advice, suggestions? trading an 8.25% loan for an 11.25% one or for a 6000 debt at 18% is tempting...

Thank you!
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