Parental Loans for Learning
- Federal Loans and Grants for College
- Private Loans for College
- Home Equity Line of Credit
- Whole Life Insurance/Universal Life Insurance
- Borrowing from Your Qualified Retirement Plans
Home Equity Line of Credit
You can establish a home equity line of credit, based on your home's appraised market value minus any unpaid mortgage and then borrow a percentage of the home's equity. You may wish to set up this line of credit in advance and then borrow as needed for each year of college.
IMPORTANT NOTE: Remember that the cash you have on hand or in a bank account is counted as an asset when schools determine your child's eligibility for federal need-based financial aid; however, the equity in your home is not. Therefore, establish the credit line, but don't withdraw the funds until after you receive a financial aid determination
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| Not FDIC Insured | Not Bank Guaranteed | May Lose Value |
| Not a Bank Deposit | Not Insured by Any Federal Government Agency | |
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