[Four Pillars]

I think your plan is good however the complaint against loan consolidation is that having an empty LOC (or credit cards etc) can be very tempting and some people will start borrowing again and end up with more debt then pre-consolidation.

In your case I would want to know why you have so much debt and negligible assets given that you have $90k in income and no house? Unless there are extenuating circumstance (ie you just graduated school) then you should really look at putting a proper budget together and cut your spending. Once you are confident that you have a handle on your finances then you should do the consolidation.

 

[Four Pillars]

With the updated info I would say that loan consolidation is probably a good idea since it will lower the interest rate.

I'm not sure if it's better to put the $8500 into your rrsp or pay off the loan. Assuming you can consolidate all your loans into a reasonable rate then you might be better off with the rrsp. Either choice is a good one in my opinion.