Home Equity Line of Credit (HELOC) usage for funding children's college tuition is debated, with $11 trillion in US equity available.
Home Equity Line of Credit (HELOC) usage for funding children's college tuition is being discussed, with $11 trillion in tappable US equity available. HELOCs allow up to 80% home equity borrowing, unlike federal Parent PLUS loans. Despite benefits, experts warn parents to evaluate risks, including HELOC interest rates & potential foreclosure, adjustable rates, and impact on retirement savings.
June 17, 2024
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