Should I take out a Home Equity loan to pay off my private Student loans?

I heard that taking out a Home Equity loans to pay off my private student loans is an option. They are several loans through Sallie May resulting in $79,000 including interest, but are not consolidated. What are your opinions?

evaluate the term of the loans, the interest rate you would be paying and if they are tax deductable now, and if you can make use of the deduction should you shift them to a home equity loan. Then, decide if there is any chance you could be unemployed or otherwise without the means to pay on the loans. If so, you may not wish to offer your home as collateral to these loans.

It's going to be a matter of balancing the interest costs against the risk to your home most likely.

Don't forget to match the terms of the loans when evaluating on a payment basis.

it is worth in to use the home equity or a refin as the interest is deductible; assuming you can deduct interest against your taxes.Some say not to do that as you then have a potential danger of loosing your home over your student loan, if paying the mortgage is a problem. Student loan interest can be very low compared to home equity or refin interest. You have to balance the two and also think of your housing situation, if you are planning to sell or move in the near future.