Meeting Tuition with a Home Equity Loan
Meeting Tuition with a Home Equity Loan
This may sound a little far fetched, but actually more and more Americans are turning to home equity loans to cover the monetary gap between what Federal Aid and Loans were awarded to the student, and the total cost of attendance. Home Equity is when you owe $200k on your home, but your home appraisees at $250k; this leave $50k worth of home equity to borrow from against your home. A home equity loan is available from your banking institution, local banks and C.U.’s as well as online home equity loan lenders. Another route to go instead of a home equity loan is to turn to a certified private student loan. This type of loan is sent to the school to be certified by the financial aid and/or controller’s office.
Tags: home equity, home equity loan, tuition