Headline »

Let’s face it financial aid is as confusing as it is necessary to a college education! That is why we have designed this website to act as a guide and solution to your financial aid concerns. Please use our free resource to find answers to your questions on every type of college financial aid question! […]

Read the full story »
Financial Aid News
College Planning
Saving for College
Home » Colleges, Financial Aid News

Home Equity Loans to Pay for College

Submitted by

Before you gamble the ranch on your child’s college education, do a little research to make sure it’s worth it. There are several reasons that a Home-Equity Loan may not be a good idea. In a recent article on Bloomberg.Com, these types of student loans can get you into trouble. Home-Equity Loans can make an impact on your financial situation in a big way such as: on your tax return. A Home-Equity loan interest is not tax deductible unlike other loans used for higher education. If your real estate market is on the downward spiral it might be a good idea to cash in on an interest only loan. By refinancing in this way you can save on monthly payments and apply that extra money to the extra expenses associated with your child’s college education such as books, fees, room & board etc.

Tags: , ,

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.