If You are Comfortable with Your Mortgage Loan Payment, Consider a Home Equity Loan to Pay for Education
Our daughter is going away to college next year. Despite the fact that she was awarded two scholarships, we still have a large balance of her tuition to pay. As newlyweds, my husband and I struggled financially. We started having children pretty quickly and never got around to starting college funds for them. She is our first to leave our nest. So, we decided to apply for a home equity loan to cover the difference. Our credit is excellent and we are comfortable paying our mortgage loan payment every month, so we should have no problem getting the amount that we need. We are happy that we have this option to be able to help get her a top notch education.
