One of the callers on the Suze Orman Show the other night was calling about his student loan debt. He had put part of his student loan debt on a interest free credit card and was wondering what she thought about it. He was planning on having it paid off before the zero interest period was over.
Suze thought it was the right thing to do. Since credit card debt is unsecured debt, if something happens that you can't make your payments it is more difficult for them to come after you for it. In some cases they may sue you for the balance but not in all cases. On the other hand, student loan debt is nearly impossible to get out of. It is one of the few debts that is not dischargeable upon bankruptcy.
So even though it is the right thing to pay off the debt, in some cases circumstances come up that make it impossible to meet all of your obligations.
So her suggestion was if you have student loan debt and can get a credit card with a lower interest rate, it may be helpful to transfer the debt to the credit card.