Using a Home Equity loan to cover college tuition and school expenses

It is sometimes the last resort a parent will turn to when seeking the complete funds for the annual cost of going to college in 2010: home equity loans – Surprisingly, it turns out to be one of the better financial choices because the interest rate on the home equity loan is often much lower then the interest rate of a private student loan, a loan which parents usually cosign in order to receive the maximum funds. Home equity loan lenders’ rates do vary and there are sometimes “fees” associated with a home equity loan, so be sure and compare as many offers as possible. Local credit unions, local banks, established national brands, etc.