<prompt> Human: I am new to the adult world and trying to pay back student loans. I have about 80k in parent plus loans at 7.65 and 30k in student plus loans varying from 3-6.8 interest.I have a coworker who does personal loans as part of his retirement plan. I plan to take an unsecured loan from him for 80k at 5 interest. This will allow me to pay off all my parent plus loans, and enable me to put more money towards my student plus loans.My questions are: what do I need to know before I do this? Is there anything I need to do to protect myself or him? Is this a bad idea for some reason? Can I still claim the interest on these loans for my taxes as they went to paying of school loans?Thanks!  <response>: I plan to take an unsecured loan from him for 80k at 5 interestHe would be foolish to offer this unsecured. He is taking a much worse position than a student loan processor would have since personal loan can be discharged in bankruptcy.Your side of the transaction is a great deal. His side is terrible. 