Using your home equity to pay for college is a smart alternative

Are you caught in the "gray area" of financial aid? Do you make too much to qualify for financial aid packages, but aren't able to pay out-of-pocket for higher education for yourself, your spouse or your children? Between the subsidized and unsubsidized loans, loans from private lenders, selling investments and tapping into your retirement savings plans, deciding how to pay for higher education can be overwhelming to say the least.

Have you considered a home equity loan or line of credit? It may prove to be a smart alternative if you are considering borrowing the full amount to pay for college.

Tax benefits

Home-equity borrowing allows you to pay interest only on the amount you borrow, and the interest cost may be deducted from your taxes if you qualify. You won't find similar benefits with other college funding products. Consult your tax advisor for information.

Flexibility and Security

You can choose between a fixed-rate loan and a variable-rate line of credit, and instead of giving your student a high interest-rate credit card to pay for education-related expenses, you have the peace of mind that you can help you pay for schools ongoing expenses:

• Tuition and fees
• Books and lab fees
• Monthly housing and food
• Recreation
• Transportation
• Trip home for the holidays

Quick and Simple

With an Allpointe Mortgage Advisor, applying for a home equity loan or line of credit is typically faster and easier than other types of student loans and financial aid. You can even get pre-approved and find out within seconds if you qualify for the amount you need.

Start with an approved home equity line of credit account. Call us at 866-255-3535 to speak with an
Allpointe Mortgage Advisor today.