Personal Loans – can be a good option, but only if you have a good credit score; otherwise, the rates can be even higher than credit cards. Just what can you use a personal loan for?
Refinancing
When you Refinance – you are applying for a new loan. By refinancing, you are actually paying off the old loan by obtaining a new one.
Consolidation Loans
Consolidation Loans – combine several student or parent loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans.