using a federal loan to pay off a private loan

[bmgoree]

I currently have my federal loans maxed out to pay for tuition and housing. (I also have a private loan that I took out to get me through the summer)

It is very possible that I will be recieving a job that will give me free housing during the spring semester. (saving about $4000) currently that $4000 is going to be paid using federal stanford loans. however if I recieve free housing, I would either just decline that amount of the loan, or I would take it out $2,500 instead of $4000 and pay off my private student loan through wells fargo of $2,500 (wf has higher interest).

would this be advantageous to me in the long run? (p.s the wells fargo loan is also a cosigned loan)

[Tazman81]

Well, I don't think it is going to have an effect on your actual credit score because you are basically trading one loan for another loan.  Is the federal loan that you are getting subsidized?  My thought would be to go ahead and get rid of that personal loan because it has the higher interest rate.  This will also release your co-signer of any responsibility because the loan would be paid off.  I've seen so many times on the discussion board where friends or family no longer are cordial because of things that happen where a co-signed loan goes bad.