We have plenty of equity in our home and my sons college tuition will be approx. $30000/year. Should I take out a home equity for the estimated 4 year costs, or take out a home equity line of credit and hope interest rates stay low?
Home equity or line of credit to fund college education?
Loan....never line of credit.....The apr will change on a line of credit.
Home equity or line of credit to fund college education?
Student loans.
They can%26#039;t take away his education, regardless of whether or not the bills get paid. They can, however, take away your house.
Home equity or line of credit to fund college education?
Take a Home Equity Line of Credit. That way you can take it as you need it. The bank that I work for offers locks on the lines of credit. So you could take out 30k this year and lock in a rate and term then you would be able to do the same over the next 3 years. :)
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